Why is Bitcoin Going Up – Celsius BTC Liquidation Price Now $5k
— Could fuel continuation, Market cap, Relief rally, 14k, Improve, Froze customers funds, Tested — 1 min read
Bitcoin is up 5% today with the July 4th daily candle about to close. Market optimism increased over the holiday, and Celsius FUD passed. Celsius lending platform which froze customers funds around the time of the June Bitcoin crash to $17,600 has lowered the price at which their BTC assets will be liquidated. Liquidation price now being $4,967 – a significant reduction from previously being around $14k, then $12k – drastically reduces the chances of a flash crash in the crypto markets. The total crypto market cap fell below $1 trillion to $762 billion during the recent ‘crypto winter’ and wider correction in the financial markets in 2022. Some investors that are still long term Bitcoin bulls predict that it will require an accumulation cycle of around one or two years. Source