Bitcoin Drops Below $64,000 After Massive Liquidations
A sharp weekend decline wiped out leveraged positions and pressured the digital asset price.
Bitcoin retreated below the $64,000 mark over the weekend. The sell-off forced the closure of numerous bullish bets in the derivatives market.
Monitoring data recorded long position liquidations below $66,000 on the Newhedge platform. Trading volume over the last 24 hours reached $31.59 billion while the price fluctuated between a low of $63,278 and a high of $69,052.
Liquidations occurred individually on exchanges such as Binance and Bybit. When the collateral value falls below the required maintenance margin, the system automatically closes the position to cover the deficit.
The asset has accumulated a 6.5% decline over the 24-hour period. Looking at a 30-day horizon, the drop reaches 19.7% according to data observed on November 14.
The forced reduction of leveraged positions may amplify selling pressure in the global crypto market. This scenario increases volatility and changes the risk perception for investors who use leverage in their strategies.
Spotted an error? Write to suporte@criptoico.com.br.
