Bitcoin Eyes $70K as Trump’s 2024 Probabilities Rise, Liquidations Loom

• Over $2.24 billion in BTC longs shall be liquidated if Bitcoin dips beneath $64,000.
• If BTC breaks above $71,000, $720 million in BTC shorts shall be wiped off.
• If Bitcoin makes a brand new ATH above $74,000, $860 million in BTC shorts shall be wiped off.

Bitcoin (BTC), the world’s largest cryptocurrency, faces vital liquidation if bulls fail to take care of value motion above $69,000 within the quick time period. Knowledge from Coinglass exhibits that if Bitcoin drops beneath $65,000, traders may see $2.18 billion in Bitcoin longs worn out, with $710 million on Binance alone.

Coinglass’s Liquidation Map reveals that over $650 million in BTC longs shall be liquidated if Bitcoin falls beneath $68,000, together with $200 million on Binance. A dip to $66,000 would remove over $2.02 billion price of Bitcoin longs, with $636 million on Binance. Ought to Bitcoin drop to $64,000, a staggering $2.24 billion in BTC longs can be liquidated, with $710 million on Binance.

On the upside, if Bitcoin breaks above $70,000, almost $350 million in Bitcoin shorts shall be liquidated. A surge previous $71,000 would wipe out $720 million in BTC shorts, and a brand new all-time excessive (ATH) above $74,000 would oblitera…

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