Bitcoin Recovers to $61,500 After Dropping to $59,000; Crypto Liquidations Top $994M
Bitcoin briefly fell to $59,000 overnight but has since recovered to around $61,500. Ethereum holds near $1,650. Total crypto market liquidations over the past 24 hours reached $994 million, with the majority ($781 million) being long positions.
BTCUSDETHUSD
Bitcoin saw a sharp overnight dip to $59,000 before staging a partial recovery. The leading cryptocurrency is now trading near $61,500. Ethereum remains steady around $1,650.
The broader crypto market experienced significant deleveraging, with total liquidations hitting $994 million over the past day. Long positions accounted for $781 million of that total, indicating a wave of forced selling as leveraged bulls were caught off guard.
Source: ForkLog