Trader Peter Brandt: Bitcoin Could Fall to $60,000 Bottom

On November 5th, as per the monitoring of LookOnChain, the "1011 Insider Whale" incurred a long position loss of more than $2.7 million on Hyperliquid.

On November 5th, based on HTX market data, Bitcoin dropped below $102,000 and is currently trading at $101,854, with a 24-hour decline of 1.29%. Moreover, as of the moment of writing, a total of $177 million was liquidated in the past hour, and the long liquidations accounted for $161 million.

On November 5th, as monitored by Hyperinsight, the "Front-Running Whale with 100% Win Rate" decreased its long position in ETH and SOL by 9000 coins each within 10 minutes and is still reducing its position in small amounts. As of the time of writing, its overall long position is at an unrealized loss of $19.63 million. The position size is $116 million.

On November 5th, US Labor Secretary Delmer stated: The report of the Bureau of Labor Statistics will be made public when the government resumes its operations, and no other data can be disclosed prior to that. (Xinhua)

On November 5th, based on LookOnChain's monitoring, the "buddy"'s long position has once again been completely liquidated. His account balance now only amounts to $1718.

On November 5th, according to Coinglass data, if Bitcoin drops beneath $102,000, the cumulative long liquidation intensity on mainstream CEXs will reach $454 million. Conversely, if Bitcoin goes beyond $104,000, the cumulative short liquidation intensity on mainstream CEXs will reach $186 million. BlockBeats Note: The liquidation chart does not disclose the exact number of contracts to be liquidated or the precise value of the liquidated contracts. The bars on the liquidation chart actually represent the significance of each liquidation cluster in relation to adjacent clusters, that is, the intensity. Therefore, the liquidation chart shows to what degree the price of the underlying asset will be impacted when it reaches a certain position. A higher "liquidation bar" indicates that once the price reaches that point, it will experience a more pronounced reaction due to a liquidity cascade.