After the price of Bitcoin decreased, leading altcoins also moved into the red zone. The only exception was Solana.
According to the analytical portal Coinglass, $681 million worth of positions were liquidated on the Bitcoin options market in one day. Experts from Greeks.live noted that the first cryptocurrency decreased in price during the trading session in the United States. They believe that the bullish trend weakened after Bitcoin reached a new historical high, and against the backdrop of a rally above $70,000, hodlers began selling and began taking profits.
At the same time, analysts at QCP Capital suggest that the decline in Bitcoin will not last long, as demand for spot Bitcoin ETFs remains high.
Earlier, former Blockstream top manager and head of Jan3 Samson Mow said that Bitcoin would be worth $1 million “very soon,” but he also warned of the “inevitable collapse” of altcoins.
Source: Bits
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