Traders betting on a rebound in Bitcoin and crypto are destroyed to start the week.
Bitcoin fell from a 24-hour high of $67,695 to a low of $63,962, triggering a total of $616.41 million in liquidations, according to CoinGlass.
The vast majority of liquidations affected long traders, amounting to $524.28 million.
BTC has recorded five consecutive red monthly candles, marking one of the longest losing streaks in Bitcoin history.
Today’s fall follows a broader market pullback as markets weigh the impact of the Supreme Court’s ruling against Trump’s tariffs.
Zooming out, crypto analyst Michaël van de Poppe says BTC remains stuck in a major downtrend again for gold.
“The answer is: not good. Bitcoin could not hold above the $65,000 level and continues to fall.”
On the other hand: gold continues to rally. The inverse correlation continues to occur. Well, we will see how it develops in the coming months, but it is clear that the trend remains downward.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any assets, including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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