Bitcoin Price Dips Below $43K, Triggers Over $200M in Liquidations
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Late Sunday, Bitcoin's price corrected by over 2.5%, causing over $200M in liquidations in the last 24 hours.
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The liquidations happened as Bitcoin fell to below $43,222. Crypto traders suffered $172M in long liquidations and over $40M in short liquidations.
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Mining pool F2Pool recently deposited over 2,000 BTC to Binance as Bitcoin's price declined. Miners have been distributing Bitcoin amidst the recent rally.
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Bitcoin is currently consolidating tightly between $44,300 and $43,200 after swiftly recovering from the Sunday correction.
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According to on-chain data, Bitcoin has strong support between $42,560 and $43,245. If this level holds, there is little resistance preventing further upside.