Bitcoin (BTC) drops by 2.3% over the past 24 hours to $62K.
The daily trading volume of BTC observes an 18% decline to $25.16 billion.
Bitcoin bulls encountered rejection at the key resistance level of $64.5K, subsequently retreating to $62K. Within the past 24-hour trading window, the price of BTC dropped by 2.3%, hitting a low of $62,111.
Due to this decline, the global crypto market witnessed a 1.3% drop in market capitalization. Meanwhile, the market’s 24-hour trading volume declined by 17.38% to $63.46 billion. On the other hand, in the past 24 hours, the market has observed a liquidation of over $145 million — $113 million in long positions and $32 million in short positions. Over $40 million in Bitcoin positions were liquidated amid this price drop, as per data from Coinglass.
Analyzing the 4-hour price chart, it is evident that the MACD (moving average convergence/divergence) displayed a negative histogram, indicating a downturn. Additionally, the movement of t
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