Jun 24, 04:51 AM

Bitcoin Falls Below $63,000 on June 23, Triggering Liquidations and 13% Decline

Bitcoin's price has recently fallen below $63,000, marking a significant decline from its previous levels. This drop follows a steady decrease in Bitcoin held on exchanges, with approximately 250,000 BTC leaving since U.S. Bitcoin ETFs started trading on January 10. The price dip has triggered a spike in long liquidations and a slowdown in large whale transactions, which have dropped by 42%. Cryptocurrency analysis firm CryptoQuant notes that Bitcoin's price has fallen past the point where short-term holders sold at a profit, suggesting potential further declines. On June 23, Bitcoin struggled to maintain its position above $64,000, fluctuating between $63,868 and $64,495. In the last six sessions of spot Bitcoin ETF trading, each day saw outflows.

#Bitcoin #CryptoQuant

Written with ChatGPT (GPT-4o).

Sources

Decrypt@DecryptMedia
2 years ago
Bitcoin Plunges Below $63,000 as Markets Tumble ► https://t.co/asR9hluUvw https://t.co/asR9hluUvw
Cointelegraph@Cointelegraph
2 years ago
#Bitcoin falls below $63K as whale transactions drop 42%. A significant slowdown in $100K+ trades raises questions. What’s your take on this market shift? https://t.co/abyiJ3KlyP
𝖒𝖎𝖗𝖆𝖌𝖊@miragemunny
2 years ago
the reaction from memes to bitcoin losing $64k was not nearly as significant as the reactions to loss of prior support levels actually, the reaction has even been "minimal," i'd say you would think that to be a time for a significant reaction, but no that speaks volumes https://t.co/wVfHVZbhUv

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