Bitcoin's price has recently slipped below a critical trend line, implying an end to the short-term consolidation phase. This development hints at the initiation of a corrective phase, potentially driving Bitcoin prices lower.
The concern arises from a recent $1.7 billion liquidation event which has emphasized the volatility and vulnerability in the market.
Analysts are currently assessing technicals, observing futures data, and analyzing on-chain metrics to understand Bitcoin's potential movements in the aftermath of this significant liquidation event.
