Live markets: Bitcoin rebounds to nearly $60,000. Kospi, Nikkei sink
Bitcoin has rebounded to nearly $60,000 after a significant decline, with over $1 billion in crypto positions liquidated in 24 hours. The liquidations were largely due to long positions being flushed, with bitcoin leading at $489 million in liquidations. The current price of bitcoin is expected to set the tone for the market heading into July, with today's quarter-end options expiry being a key catalyst.
- ▪Over $1 billion in crypto positions were liquidated in 24 hours, with longs accounting for $842 million of the damage.
- ▪About 148,500 traders were wiped out, with the largest single position being a $38 million bitcoin-dollar bet on Hyperliquid.
- ▪Bitcoin is trading near $59,750, down 2.8% on the day, and is expected to be impacted by today's quarter-end options expiry.
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57 minutes ago · 5:27 AMShaurya MalwaShareShare this postCopy linkX iconX (Twitter)LinkedInFacebookEmailOver $1 billion in crypto positions were liquidated in 24 hours as longs got flushedMore than $1 billion in crypto positions were liquidated over the past 24 hours, per CoinGlass, with longs accounting for $842 million of the damage. About 148,500 traders were wiped out. The largest single position was a $38 million bitcoin-dollar bet on Hyperliquid. Bitcoin led at $489 million in liquidations, ether at $295 million.Bitcoin is trading near $59,750 on Friday morning, down 2.8% on the day and back in the $58,000 to $62,000 range it has churned through all week, per CoinDesk data.
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