Bitcoin's Breakout Above $83K Fails as Longs Get Liquidated for $91M
- —Longs made up $91.19 million of $95.22 million in four-hour liquidations
- —Largest single liquidation was an $11.78 million BTC long on Binance at $83,526
- —Shorts were 53.1% of $355.73 million in 24-hour liquidations
- —Bitcoin open interest neared $23.4 billion as funding rates fell close to zero
Why it matters: The failed breakout keeps $82,600 and $81,900 in focus, while a daily close below $80,000 would put the average US spot ETF holder underwater.
Source: BeInCrypto