BTC Reached Approximately $42,000 Before The Fed Meeting, Nearly $100m was liquidated in 1 hour On March 16
We just see BTC increase 7% from $39,000 to & 41,700 before the Fed will have a meeting to raise interest rates, along with the growth of BTC altcoins also grew rapidly in just 1h.
After breaking the resistance zone around $40,000 and reaching approximately $42,000 BTC will tend to retest the support around $40,000. Everyone, please wait for the reaction here before making plans today.
BTC/USDT 1h chart | Source: TradingView & coincu.com
The sudden increase in BTC led to the short side being heavily affected, according to Coinglass the statistics of $76m liquidation in 1 hour. This number doesn’t stop when the long side is also threatened.
BTC Liquiditations 1h – coinglass
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