Bitcoin Volatility Triggers $300 Million in Liquidations, $63 Million in Long Positions, as Price Rebounds to $68,000

The cryptocurrency market experienced significant volatility, with Bitcoin at the center of the action. Over the past 24 hours, Bitcoin's price fluctuated dramatically, initially dropping by over 3% to hover around $65,000, resulting in $63 million in liquidations. This included almost $12 million in long positions.

However, Bitcoin rebounded to $68,000, triggering nearly $300 million worth of liquidations. Short-term Bitcoin holders have been cashing out, with 7,127 BTC (approximately $480 million) flowing to Binance, the highest since March's peak of $73,800. Bitcoin futures open interest has surged due to institutional activity.

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