Bitcoin's $108K Support Zone on the Brink: Bitunix Analysts Warn of More Liquidations

Hold onto your hats, crypto fans! Bitunix analysts are sounding the alarm on the latest data showing a crypto liquidation bloodbath near the critical $108,000 support zone. And guess what? If Bitcoin crashes through this level, you better brace for more liquidations coming your way!

Bitcoin's (BTC) wild ride has left a massive liquidation crater, according to the gurus at crypto exchange Bitunix. On Tuesday, May 27, the total crypto liquidations hit a staggering $211 million, with a clear skew towards those daring long positions. Get this: a whopping $131 million in longs got wiped out, while shorts took a lighter hit at $79.84 million.

Bitunix's brainiacs are calling this a long-side massacre during Bitcoin's recent nosedive to $108,000. They're waving a big red flag, warning traders to cool it with those aggressive long bets while BTC teeters on this crucial support.

"Keep your eyes peeled for the impact of the $108,500-$109,000 support zone, and don't go chasing waterfalls! Our advice? Watch closely to see if the $110,800-$112,000 resistance band gets smashed before you make your next move," Bitunix boldly declares.

Bitcoin's Price Flirts with Danger: Bitunix Urges Short-Term Caution

Listen up, crypto warriors! Bitunix's liquidation heat map is painting a vivid picture of a liquidation cluster bomb around the $108,000 level. This zone is shaping up to be a battleground where buyers are ready to step in and fight for liquidity support.

But hold your horses! Bitunix's analysts are still preaching caution. If BTC takes a tumble below that $108,000 mark, you can bet your bottom dollar on more liquidations and a potential price breakdown.

"If Bitcoin drops below $108,000, it's gonna be a liquidation fiesta. Traders, keep your risk control tight because the market could go south again if the cash doesn't start flowing back in," Bitunix warns.

But wait, there's hope on the horizon! Despite the short-term rollercoaster, UTXO's Guillaume Girard and Will Owens dropped a bombshell report on May 25. They're shouting from the rooftops that Bitcoin's institutional demand is outpacing the supply like a cheetah chasing a gazelle. Buyers are flooding the market faster than miners can mint those precious Bitcoins, and this trend could skyrocket in the coming years!