Analysts say that the liquidation profile of bitcoin is a completely different pattern.

With low leverage in the system, the incidence of liquidity of bitcoin no longer comes from the sharp swings of 2021.

Bitcoin (BTC) liquidation is completely separated from the final bull market, blockchain firm Matrixport says that despite being a hit of $ 600 million several times despite daily liquidity, with the minimum follow-throat One is found below.

In 1 February 19 research noteAnalysts noted that the current is a sharp contrast to dynamic 2020 and 2021, when the market caused excessive volatility.

“Unlike the final bull market, where liquidation triggers extreme volatility, this time, even in a few days with $ 600 million in bitcoin and atherium liquidation, prices are looking for a below with minimum follower.”

Marcus Thielen, independent analyst

Thielen suggests that the system is now “relatively low”, saying that traders have also become “more strategic” in setting stop losses. He said that the approval of the spot bitcoin exchange-traded funds by American Securities and Exchange Commission may also strengthen the strong market sentence.

Bitcoin is no longer seen as high-risk property, this question is no longer if it can go to zero, but how much it can be. While previous data suggests that liquidation-operated cell-offs are limited, there are still risks.

Analysts point to the Inter-Exchange Flow Pulse Indicator, which tracks the bitcoin movement between the spots and derivative markets. Typically, more BTC increases the signs flowing in derivatives. However, the indicator currently shines of recession, suggesting that bitcoin may face more resistance before the breakout.