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BTC Bubble updates find out why


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• Global cryptocurrency market capitalization is trading 2.9% down to $2.07 trillion with short liquidations highest in almost two months.
• One trader noted that Bitcoin could drop to $47,000, while another highlighted that government selling is overestimated.

• IntoTheBlock data noted Bitcoin reflecting strength in key metrics, with 14.8% growth in large transaction volumes and a 259.7% surge in exchange netflows. Transactions greater than $100,000 also increased in a single day.
• Coinglass data pointed to short liquidations at their highest level ($132 million) since May 20. In the past 24 hours, 206,505 traders were liquidated, the total crypto liquidations stood at $582.02 million.

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