Bitcoin Traders Face $75M in Liquidations After Three Failed Attempts to Clear $65,600

BTC0.41%
On July 27, Bitcoin traders faced $75M in liquidations across long and short positions after three failed attempts to break above $65,600, according to Coinglass data. The cryptocurrency jumped to $65,500 following reports of eased U.S.-Iran tensions but retreated multiple times, ultimately falling to $64,336. Short positions accounted for approximately $45M of the liquidations, while $30M in leveraged long positions were wiped out during the 24-hour period. Strategy, the institutional bitcoin holder, declined to expand its bitcoin holdings despite raising $544.5M in fresh capital, removing a key buying catalyst that could have anchored the rally above the crucial $65,500 resistance level.
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