Bitcoin clawed back losses during weekend trading after falling over $2,000 on Saturday, catching traders unawares and triggering close to $500 million in liquidations.
The world’s largest digital asset is trading just below $98,000 after falling to a three-day low of $95,800, according to CoinGecko data.
The dip sent long liquidations soaring to an 11-day high above $344 million while shorts coughed up around 136 million, CoinGlass data shows.
Analysts expect much of the same witnessed over the last two weeks, with demand from retail and institutional investors likely unaffected by intraday swings.
“As we continue to see strong demand for Bitcoin alongside further easing of monetary policy by global central banks, prices are likely to remain supported as we approach the end of the year,” QCP Capital wrote in a note last week.
Investor sentiment continues to be bolstered by favorable tailwinds stemming from the incoming Donald Trump administration, with the President-elect having vowed to drive a
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Author: Sebastian Sinclair
