The post Over $122M Bitcoin longs liquidated as BTC falls below $61K appeared on BitcoinEthereumNews.com.

The incoming selling pressure from the Mt. Gox repayment could still cause Bitcoin’s price to fall below the psychological $60,000 mark. Bitcoin (BTC) experienced the liquidation of over $122 million in leveraged long positions as its price dropped below the $61,000 mark, raising the risk of potentially falling below the critical $60,000 threshold. Over $122 million worth of cumulative leveraged long Bitcoin (BTC) positions have been liquidated in the 24 hours leading up to 1:25 pm UTC, according to CoinGlass data. The liquidations were triggered by an over 5% intraday drop in Bitcoin’s price, which briefly fell below the $61,000 mark at 1:25 pm UTC on June 24. The world’s first cryptocurrency is down over 7% on the weekly chart, according to CoinMarketCap data. Read more Source: https://cointelegraph.com/news/bitcoin-price-drops-61k-liquidation-122m

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Filed under: News - @ June 25, 2024 4:08 am