Trader Closes 200 BTC Short to Avoid Liquidation

A recent trading move by an individual has caught the attention of analysts at blockchain.news. According to data from Lookonchain, the trader closed a short position worth 200 BTC early on, resulting in a significant loss of $146.5K. This decision was made to avoid liquidation, as the new liquidation price stood at $64,998.73.

The 1600BTC-short trader still holds a 1,400 BTC short valued at $90.44M. The current price of Bitcoin sits at $64,557.57 within the Bollinger band's upper resistance level of $65,115.84. The EMA50 and EMA200 anchor the bullish structure, while the MACD golden cross indicates momentum is intact.

Analysts are now watching to see if the price will push toward the $64,998.73 liquidation level, which could test short-term volatility exhaustion before a deeper retracement to the EMA50 support level.