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Bitcoin

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Velo

<p><a href="https://en.coin-turk.com/analyst-predicts-bitcoins-potential-surge-4/" rel="noopener noreferrer nofollow">Bitcoin</a> declined by 3% over the past 24 hours, slipping below the $61,000 mark, as short-term traders focused on liquidity dynamics. As more than $525 million in buy orders clustered between $60,500 and $61,500, the price dipping into this band increased both downside and upside liquidation risks in the market.</p>
<h2 id="liquidity-clusters-shape-bitcoin-s-short-term-direction">Liquidity clusters shape Bitcoin’s short-term direction</h2>
<p>Order book data reveals concentrated liquidity pockets just below $60,500 and around the $65,000 level. This suggests that price movements in Bitcoin are currently being driven by how liquidity shifts in these zones, defining the short-term trend.</p>
<p>Bitcoin closed Tuesday at $62,700, marking its lowest daily finish since June 10. The drop erased the previous day’s price action and formed a bearish engulfing candlestick pattern, a technical signal pointing to weakening momentum in the short run.</p>
<p>Following this, the price stabilized sideways just below $63,000. On the hourly chart, lower highs set in after the rejection near $66,000 earlier in the week. Meanwhile, the relative strength index (RSI) pulled back from recent overbought territory. Despite this, Bitcoin remains above the local June low of $60,500, indicating some support at this level.</p>
<p>Glossary: RSI is a momentum indicator measuring the speed and strength of price movements. High values typically indicate overbought conditions, while low values suggest oversold markets.</p>
<blockquote>
 <p>Lennaert Snyder observed that while Bitcoin experienced a brief rebound, he remains unconvinced and currently holds off on taking any long positions.</p>
</blockquote>
<h2 id="key-levels-gather-around-60-500-and-61-500">Key levels gather around $60,500 and $61,500</h2>
<p>Crypto investor Lennaert Snyder believes that whether a stronger upward reaction emerges will depend on how Bitcoin behaves around the $61,500 and $60,500 zones. He also notes that the $63,500–$64,000 range stands out as a higher liquidity band that could attract the price if momentum shifts upward.</p>
<p>According to Velo data, investors initially added 8,366 BTC in buy-side liquidity between $61,500 and $60,500. As Bitcoin slipped below $61,000, a significant portion of this buying interest was triggered, with roughly $270 million in buy orders executed in that range.</p>
<p>The remaining buy orders are positioned towards the lower end of this liquidity cluster, where investors are attempting to absorb the latest wave of selling pressure.</p>
<h2 id="short-positions-dominate-the-liquidation-map">Short positions dominate the liquidation map</h2>
<p>Bitcoin’s movement below $61,000 cleared out a substantial share of leveraged long positions clustered near $61,500. CoinGlass data indicates that over $125 million in long positions were liquidated within the last hour, easing immediate downside liquidation pressure around the current price.</p>
<p>With most nearby long leverage flushed out, short positions piled up above the spot price became more prominent on the liquidation map. About $1.2 billion in shorts are concentrated around $63,500. If the remaining buy liquidity between $60,500 and $61,000 continues to hold, market focus may soon shift toward this zone.</p>
<p>The next major liquidation risk lies near $65,000, where over $2.4 billion in short positions remain vulnerable. Historically, such build-ups can trigger sharp price movements when liquidations cascade into forced buying. For now, the most significant liquidity accumulation remains near the $60,500 level.</p>
<p>The post <a href="https://en.coin-turk.com/bitcoin-fell-3-in-24-hours-to-below-61000-with-1-2-billion-in-short-positions-accumulating-near-63500/" rel="noopener noreferrer nofollow">Bitcoin fell 3% in 24 hours to below $61,000, with $1.2 billion in short positions accumulating near $63,500</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Bitcoin fell 3% in 24 hours to below $61,000, with $1.2 billion in short positions accumulating near $63,500

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