The 62,511 level we checked this morning didn’t hold. The 9 a.m. candle hit a low of 62,006, then recovered to 65,111 over the next hour. The morning high was 65,595.
Bitcoin is now at 64,893, down about 3.4% over 24 hours. Ethereum is at 1,808, down about 5.0%. It was still at 62,698 this morning, and for now it has recovered from that low.
In the futures market, about $203 million in positions have been liquidated so far today, with longs accounting for roughly 64%. During this rebound, short liquidations over the past four hours have slightly exceeded long liquidations. The largest single liquidation was a Bitcoin long worth about $6.21 million on Binance, hit at 62,115 at 9:39 a.m. this morning. There’s no new U.S. data over the weekend. The next major release is Japan’s preliminary third-quarter GDP at 7:50 a.m. tomorrow.
For now, price needs to hold above 65,000 before we can talk about the morning high of 65,595. Based on Binance’s closed weekly candles, the 200-week moving average is estimated to be around 67,760, so there’s still a way to go before reclaiming it. First, let’s see whether 62,006 gets tested again.
Will 65,000 hold through the afternoon?
$BTC $ETH
#BTC #Crypto market pulls back sharply, several whales face liquidations #Crypto and U.S. stocks fall together—what could drive the next rebound?
Bitcoin is now at 64,893, down about 3.4% over 24 hours. Ethereum is at 1,808, down about 5.0%. It was still at 62,698 this morning, and for now it has recovered from that low.
In the futures market, about $203 million in positions have been liquidated so far today, with longs accounting for roughly 64%. During this rebound, short liquidations over the past four hours have slightly exceeded long liquidations. The largest single liquidation was a Bitcoin long worth about $6.21 million on Binance, hit at 62,115 at 9:39 a.m. this morning. There’s no new U.S. data over the weekend. The next major release is Japan’s preliminary third-quarter GDP at 7:50 a.m. tomorrow.
For now, price needs to hold above 65,000 before we can talk about the morning high of 65,595. Based on Binance’s closed weekly candles, the 200-week moving average is estimated to be around 67,760, so there’s still a way to go before reclaiming it. First, let’s see whether 62,006 gets tested again.
Will 65,000 hold through the afternoon?
$BTC $ETH
#BTC #Crypto market pulls back sharply, several whales face liquidations #Crypto and U.S. stocks fall together—what could drive the next rebound?