Bitcoin Short Liquidations May Reach $523 Million if Price Tops $66,000
JOON HYOUNG LEE
Summary
- Bitcoin could trigger $520 million in short liquidations across major exchanges if it breaks above $66,000.
- BlockBeats, citing CoinGlass data, reported that $523 million in short liquidations could hit major centralized exchanges (CEXs) if Bitcoin rises past $66,000.
- If Bitcoin falls below $63,000, $658 million in long liquidations across major exchanges could follow.
Forecast Trend Report by Period
Bitcoin could trigger $523 million of short liquidations across major exchanges if it climbs above $66,000.
BlockBeats, citing CoinGlass data, reported on July 19 that short positions worth $523 million on major centralized exchanges could be liquidated if Bitcoin moves past $66,000.
If Bitcoin falls below $63,000, long positions worth $658 million across major exchanges could be liquidated instead.
Bitcoin traded in the upper-$64,000 range later in the day as it extended gains. According to CoinMarketCap, the cryptocurrency was trading at $64,651.95 as of 4:17 p.m. Korea time, up 1.09% from a day earlier. It was also 1.39% higher than a week earlier.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul