Quick Take
Bitcoin went above the $67,000 mark, nearly hitting $67,500 — its highest level since April 13.
The remarkable rally has triggered a wave of liquidations within the digital asset ecosystem over the past 24 hours. Approximately $122 million worth of positions have been liquidated, comprising $39 million in long positions and $84 million in short positions, based on Coinglass data.
Out of the total liquidations, a staggering $45 million can be attributed to Bitcoin alone. Notably, in the $67,500 to $68,000 range, there lies a substantial $2 billion worth of leveraged positions at risk of liquidation.
While Bitcoin is up 3% for the day, it’s crucial to note that the S&P 500 and Nasdaq are slightly red, while gold has gained approximately 1%.
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