In a significant development in the cryptocurrency market, over $88m in leveraged Bitcoin positions were liquidated within a 24-hour period, highlighting the volatility and risks associated with leveraged trading in what is considered a bull market. Notably, Bitcoin's liquidation levels reached their lowest at $64,500, a point considered by analysts as the highest probability for a market bounce. Subsequently, Bitcoin did hit this zone, leading to a market bounce. Further data revealed that in the last 24 hours, liquidations amounted to $587 MILLION for those holding long and short positions, with a total of $2.2b in long positions opened at the $64,500 level. Additionally, the short side indicated a top range target of 71k. The total liquidations in the cryptocurrency market amounted to $288.66 million in the past 24 hours.