Bitcoin

Drops

Bitcoin long liquidations surged over $27 million in the past 24 hours as its price fell to around $63,568. This marks a 1.6% drop, reflecting broader market turbulence. In total, $33.85 million in Bitcoin positions were liquidated, with the wider cryptocurrency market seeing $132 million in liquidations.&nbsp; 
Notably, $105 million of these were long positions, as per <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noreferrer noopener nofollow">Coinglass data</a>. 
Bearish Indicators and Market Uncertainty 
Analyst Neil Roarty from Stocklytics highlighted a notable decline in Bitcoin’s price, reaching its lowest in over a month. This decline indicates a division among investors about the cryptocurrency’s future.&nbsp; 
Moreover, Roarty noted potential insider knowledge influencing the market. He said, “The largest Bitcoin holders have together sold more than $1 billion worth of the coin over the last couple of weeks.”&nbsp; 
Despite this, some bullish investors argue that Bitcoin’s price is still only 10% below its all-time high of $73,000, achieved in March. They see this as a normal period of consolidation before potentially targeting the $100,000 mark. This moment is seen as a critical inflection point for Bitcoin, with its future direction remaining uncertain. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/06/20/germany-continues-large-bitcoin-transfers-to-major-exchanges/" target="_blank" rel="noreferrer noopener">Germany Continues Large Bitcoin Transfers to Major Exchanges</a> 
</blockquote>

Bitcoin Liquidations Surge as Price Drops Below $64,000

The Crypto Times

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