Traders betting on a Bitcoin and crypto bounce are getting wrecked to start the week.
Bitcoin dropped from a 24-hour high of $67,695 to as low as $63,962, triggering a total of $616.41 million in liquidations, according to CoinGlass.
The vast majority of the liquidations hit traders going long, coming in at $524.28 million.
BTC has recorded five consecutive red monthly candles, marking one of the longest losing streaks in Bitcoin’s history.
Today’s plunge follows a broader market pullback, as markets assess the impact of the Supreme Court’s ruling against Trump’s tariffs.
Zooming out, crypto analyst Michaël van de Poppe say BTC remains locked in a major downtrend again gold.
“The answer is: not bueno. Bitcoin couldn’t hold above the $65,000 level and continues to fall.
On the flipside: Gold continues to rally. The inverse correlation remains to be happening. Well, we’ll see how that unfolds in the coming months, but it’s clear that the trend remains to be down.”
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Generated Image: Midjourney
All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.…
The United States and Israel’s war with Iran has now been ongoing for two weeks,…
Pharos Network’s RealFi Alliance expands with the intelligence partners cohort, introducing Dune, Alchemy and Anchorage…
The European Central Bank has sounded the alarm on stablecoins, warning that dollar-pegged digital assets…
Meebits Launches Digital Avatar NFTs in Collaboration with Otherside and OpenSea Source link
All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.…