Bitcoin: Falls Below $65,000 as $1.8B Liquidations Hit
The Kobeissi Letter reports Bitcoin falling below $65,000 and ETH below $1,750 with total liquidations reaching $1.8 billion over the last 24 hours and crypto markets erasing $330 billion in market cap this week.
SourceAnalysis
Bitcoin slipped below $65,000 while ETH dropped under $1,750, triggering $1.8 billion in liquidations across the last 24 hours according to The Kobeissi Letter. Crypto markets have shed $330 billion in market cap over the week.
Price action on the 4h chart shows BTC at $64,579.15 inside a bearish structure with the EMA50 at $72,071.14 and EMA200 at $77,584.41 acting as overhead resistance. RSI at 17.16 signals deep oversold conditions while the MACD death cross at -2,259.17 confirms trend weakness. With price pressing the lower Bollinger Band near $63,576.82, a bounce toward the band midline appears likely before any sustained recovery attempt.
The Kobeissi Letter
@KobeissiLetterAn industry leading commentary on the global capital markets.