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futuresliquidations
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Bitcoin closes below $60K for first time since 2024
Bitcoin dropped to $58,000 before rebounding to $59,770, marking its lowest level since September 2024. The selloff was driven by weakness in Asian tech stocks, with major indices posting sharp overnight declines that rippled into crypto markets.
Over $1 billion in futures positions were wiped out in the process, while ETH slid even further into bearish territory with additional losses on top of yesterday's decline. Analysts are pointing to a broader risk-off shift as institutional investors trim exposure to volatile assets across the board.
The sub-$60K close carries psychological weight. Historically, breaks below key round numbers trigger cascading liquidations before recovery begins. Whether this time follows the established pattern depends entirely on whether the tech-driven selloff stabilizes in the coming sessions.
Traders are watching the $57,500 level as the next major support zone. A clean break below could open the door to $52,000 — the August 2024 low that preceded the last major recovery.
Is $58K the capitulation low or just the start of deeper correction? 👇
#BitcoinSub60KClose #TechStockSelloff #FuturesLiquidations
Bitcoin dropped to $58,000 before rebounding to $59,770, marking its lowest level since September 2024. The selloff was driven by weakness in Asian tech stocks, with major indices posting sharp overnight declines that rippled into crypto markets.
Over $1 billion in futures positions were wiped out in the process, while ETH slid even further into bearish territory with additional losses on top of yesterday's decline. Analysts are pointing to a broader risk-off shift as institutional investors trim exposure to volatile assets across the board.
The sub-$60K close carries psychological weight. Historically, breaks below key round numbers trigger cascading liquidations before recovery begins. Whether this time follows the established pattern depends entirely on whether the tech-driven selloff stabilizes in the coming sessions.
Traders are watching the $57,500 level as the next major support zone. A clean break below could open the door to $52,000 — the August 2024 low that preceded the last major recovery.
Is $58K the capitulation low or just the start of deeper correction? 👇
#BitcoinSub60KClose #TechStockSelloff #FuturesLiquidations
$RIVER تمر العملة من مرحلة جني الأرباح،استعدو يا شباب ،صفقة هابطة🔻🔸
Entry: 0.723395 – 0.734173
SL: 0.780514
TP: 0.687 / 0.662 / 0.625
$RIVER
#Binance #StrategyBTCPurchase #MarketRebound #StrategicTrading #FuturesLiquidations
Entry: 0.723395 – 0.734173
SL: 0.780514
TP: 0.687 / 0.662 / 0.625
$RIVER
#Binance #StrategyBTCPurchase #MarketRebound #StrategicTrading #FuturesLiquidations
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