Bitcoin at $61K, fierce buying and selling...$200 million in short positions liquidated

Bitcoin is in a fierce buying and selling battle at the $61K level. After touching 64K in the New York market, Bitcoin is facing a battle between chasing and profit-taking forces in Asia. As of 10 a.m. ET, Bitcoin was trading at $61,362 on CoinMarketCap, up 7.6% from 24 hours earlier. On the South Korean crypto exchange Upbit, the price of the Korean won is around 86.33 million won. The Kimchi premium is around 7 million won. Bitcoin's short-term surge has led to a large number of short positions being liquidated. According to CoinGlass data, Bitcoin shorts wiped out $199.99 million worth of positions in the last 24 hours. The crypto market as a whole saw $749 million in positions forced to close. The short position is over $400 million. By coin, Ethereum had $121.81 million in liquidations, followed by Dogecoin with $40 million and Solana with $23 million. Other coins also saw more than $100 million in positions wiped out. Opinions are mixed on the short-term outlook for Bitcoin. Predictions of a new all-time high of $69,000, set in November 2021, are pitted against claims that profit-taking on the short-term surge is inevitable. MatrixPort, which had predicted that the price could reach $63,000 by March, now sees a 15% correction from current levels. The long-term investment view remains valid, it said.