The recent Bitcoin (BTC) price volatility saw significant liquidations amounting to over $1.78 billion from overleveraged positions. This large-scale liquidation triggered a downward movement, causing a 6% drop and bringing the Bitcoin price down to a low of around $94,000.
However, the sellers seem to be running out of steam, and the Bitcoin price has begun to recover. As of now, the BTC price has climbed back up and is currently trading above $98,000. This rebound suggests that the market is poised for a potential surge.
Analysts believe that with the exhaustion of selling pressure, Bitcoin is primed to surpass the $100,000 mark within the next 24 hours. The momentum is expected to sustain as the demand for BTC continues to push prices higher.
