Bitcoin

Million

Reserve

After a quiet weekend in which it stood primarily around $63,000, BTC went on the offensive during the Monday morning Asian trading session but was stopped at just under $65,000. 
The subsequent rejection brought some more volatility to the market, which has liquidated over 60,000 traders on a daily scale. 
Bitcoin’s price actions were quite positive in the past several days, especially since the US Federal Reserve <a href="https://cryptopotato.com/bitcoin-above-62k-us-stock-market-down-and-more-feds-rate-cut-aftermath/" data-wpel-link="internal">cut</a> the key interest rates in the country by 0.5% on Wednesday. BTC reacted with immediate price fluctuations but the bulls prevailed and drove the asset north, culminating in a price <a href="https://cryptopotato.com/bitcoin-btc-price-touched-64k-solana-sol-explodes-9-daily-market-watch/" data-wpel-link="internal">surge</a> to over $64,000 on Friday morning. 
The cryptocurrency failed to keep going up and lost some momentum during the weekend. As reported, it traded in a tight range of <a href="https://cryptopotato.com/these-are-this-weeks-top-performers-as-bitcoin-btc-calms-at-63k-market-watch/" data-wpel-link="internal">around $63,000</a> for the most part. 
More volatility ensued on Sunday evening and Monday morning. First, BTC dropped to $62,400, shot up to $64,000, slipped by a grand and a half again, and initiated an impressive leg up hours ago. 
This resulted in a price surge to a four-week high of $64,800 (on Bitstamp). Yet, the bears were quick to intercept and stop BTC’s rally. As of now, the asset trades about $1,000 lower. 
<figure id="attachment_361774" aria-describedby="caption-attachment-361774" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-29.png" data-wpel-link="internal"><img class="size-full wp-image-361774" src="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-29.png" alt="Bitcoin/Price/Chart 23.09.2024. Source: TradingView" width="1835" height="819" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-29.png 1835w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-29-300x134.png 300w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-29-1024x457.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-29-768x343.png 768w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-29-1536x686.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-29-50x22.png 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a>
 <figcaption id="caption-attachment-361774" class="wp-caption-text">
 Bitcoin/Price/Chart 23.09.2024. Source: TradingView
 </figcaption>
</figure> 
Many altcoins mimicked BTC’s performance, but some, such as ETH and BNB, have gained more than 2% on a daily scale. ETH stands above $2,650, while BNB has neared $600. 
This substantial volatility has harmed over-leveraged traders, with almost 62,000 such market participants being wrecked on a daily scale. The total value of liquidated positions is up to $165 million, according to CoinGlass. 
The single-largest liquidated position actually involved ETH and was worth $2.73 million. It took place on Binance. 
The post <a href="https://cryptopotato.com/over-160-million-in-liquidations-as-bitcoin-btc-got-rejected-at-65k/" rel="nofollow">Over $160 Million in Liquidations as Bitcoin (BTC) Got Rejected at $65K</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Over $160 Million in Liquidations as Bitcoin (BTC) Got Rejected at $65K

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