🚨 $BTC Breaks $63K – Shorts Getting Crushed 🚨
Current Price: ~$63,200
24H Change: +3-4% 📈
Why Bouncing?
1. Short Liquidation 💀 – BTC spiked above $64K, liquidating over $12M in shorts on Hyperliquid alone.
2. Dip Buying 🛒 – BTC hit $59K on June 6 (first sub-$60K since Oct 2024), triggering bargain hunters.
3. Extreme Fear (8/100) 😨 – Historically, these levels often precede bottoms.
4. Supply in Loss 📊 – Over 10.4M BTC (52% of supply) held at a loss – a major cycle bottom signal.
Key Levels
Support Resistance
$60,000 $63,000-64,000
$59,085 (recent low) $67,500 (next)
⚠️ Bearish Case Still Alive
· ETF outflows: 14+ days straight 🏦
· Strategy sold BTC for first time since 2022 🏢
· AI stocks pulling capital away 🤖
· Rate hike fears from strong jobs data 🌍
📝 My Take
Bottom signals are flashing, but macro headwinds remain. **Watch $63K** – if it holds, more shorts get squeezed toward $67.5K. If $60K breaks, next is $55K.
Trade carefully. 🛡️
NFA – DYOR