Crypto
Bitcoin Faces $82,000 and $76,000 Liquidation Gauntlet Ahead of Fed Decision
Bitcoin's price is pinned between two massive liquidation zones, worth $1.95 billion and $76,000 respectively.
The setup has been described as a coiled spring by analysts at Bitfinex.
A break above the upper boundary of $82,000 could trigger the sale of nearly $2 billion in short positions.
On the other hand, a decisive break below the lower boundary of $76,000 could lead to a cascade of forced selling across multiple price levels.
The Federal Reserve's upcoming policy meeting on Wednesday is expected to be a key catalyst for Bitcoin's price movement.