Bitcoin's $64K High Leaves Traders Reeling with $790M Losses The crypto market took a hit as
Bitcoin soared past $64,000, only to swiftly drop below $60,000. In just 24 hours,
79,700 traders were left counting their losses.
Liquidations were the name of the game, with shorts losing $438M and longs shedding $352M. Ethereum also felt the sting, losing $126.83M in the wipeout.
With Bitcoin's trajectory pointing to
$75,000, more liquidations could be on the horizon. The Liquidation Heatmap suggests short positions between $49K and $56K are at risk.
Bears may be on the backfoot as buying pressure clears the way for bulls. The Directional Movement Index signals a potential surge, with little resistance in sight.
While a dip to
$55,000 is possible if bears gain traction, current indicators favor an upward swing. As buying pressure persists, a push past
$69,000 seems within reach.
