$BTC Chart Analysis by @chartclub
# BTC Below $64K. $1.1B Liquidated.
Bitcoin dropped below $64,000 today, triggering a liquidation cascade that wiped out over $1.1 billion in leveraged positions within 24 hours.
The selloff accelerated after the U.S. jobs report crushed rate cut expectations. Crypto sold off alongside the Nasdaq in a broad risk-off move.
ETH fell below $3,200. Total crypto market liquidations exceeded $1.5 billion when including altcoins.
Spot Bitcoin ETF outflows have now exceeded $1.75 billion since mid-May. The basis trade is unwinding. Leveraged longs are getting flushed.
$60,000 is the critical support level. A break below that opens the door to $55,000-$57,000. Bulls need to reclaim $65,000 to stabilize.
This is what a leverage flush looks like. The question is whether it creates a floor or a trap door.
#Bitcoin #Crypto #Liquidation #BTCPrice
0
5347 views
Comments (0)
Join ChartClub to comment and participate in the discussion.
No comments yet. Be the first to share your thoughts.