$33.14 Billion At Risk If The Bitcoin Price Hits $72,462, Here’s Why

Crypto analyst Ash Crypto has alerted the crypto community that $33.14 billion is at risk if the Bitcoin price reaches $72,462. This relates to the short positions that could be liquidated if the flagship crypto hits that price target, a development that will be bullish for BTC. The liquidations of these Bitcoin shorts could be bullish for the flagship crypto, leading to an extended rally to new highs, especially with the current ATH of $73,000 being in sight once the price hits $72,462. However, there is also a scenario where the Bitcoin price could correct to flush out overleveraged longs before it continues with its move to the upside. Bitcoin's demand is again on the rise, which could fuel this rally to a new ATH. Specifically, the Spot Bitcoin ETFs, which fueled the run to a new ATH earlier in the year, are again actively accumulating. SpotOnChain data shows that these Bitcoin ETFs witnessed a net inflow of $2.13 billion this week. BlackRock, in particular, added $1.14 billion worth of BTC to its holdings. Bear analyst Justin Bennett has warned traders to be cautious about trading amid this recent Bitcoin price rally, stating that things do not add up and that staying cautious during periods like this is the best way to survive. Crypto analyst CrediBULL Crypto also warned that the Bitcoin price rally is being driven by the perpetuals market, noting that open interest has officially surpassed the level it was at before the last BTC drop from $70,000 to $49,000.