Traders betting on a Bitcoin and crypto bounce will be demolished at the start of the week.
Bitcoin fell from a 24-hour high of $67,695 to $63,962, causing a total of $616.41 million in liquidations, he said. MintGlass.
The vast majority of liquidations hit traders who went long, totaling $524.28 million.
BTC has recorded five consecutive red monthly candles, marking one of the longest losing streaks in Bitcoin history.
Today’s plunge follows a broader market pullback as markets assess the impact of the Supreme Court’s ruling against Trump’s tariffs.
Zoom out, crypto analyst Michaël van de Poppe participation BTC remains locked in a major downtrend for gold.
“The answer is: not bueno. Bitcoin could not stay above the $65,000 level and continues to fall.
On the other hand, gold continues to rise. The inverse correlation persists. We will see how that develops in the coming months, but it is clear that the trend is still downwards.”
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Generated image: Midjourney