Bitcoin: Plunges Below $63000 With $220M Long Liquidations
Bitcoin drops below $63000 after $1500 slide in three hours, liquidating $220 million in longs as 4h chart shows bearish EMA death cross and lower band test.
SourceAnalysis
Bitcoin dumped $1500 in three hours to trade at $62954, breaching $63000 and triggering $220 million in long liquidations over four hours amid fresh BTC price support levels near $63000.
Price sits below both EMA50 at $64131 and EMA200 at $68338 on the 4h chart while MACD prints a death cross at -41.16; with the pair testing the lower Bollinger band near $63138 and RSI at 39.1, the structure points to extended downside pressure consistent with prior Bitcoin long liquidation cascades historical examples rather than any immediate reversal.
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