Bitcoin can’t seem to leave the $60,000 price level as it continues to trade in uncertainty. On Saturday, August 3, the cryptocurrency experienced another sharp decline, briefly dipping below the $60,000 mark. Although this drop lasted only a few minutes, it was quite significant, especially given that Bitcoin had traded above $62,000 earlier the same day. This fluctuation has notably impacted market participants, leading to the liquidation of numerous long positions. Related Reading: ARB Market Plummets 14%, But New Developments Could Reverse The Trend At the time of writing, over $197 million worth of leveraged positions have been liquidated in the past 24 hours. Notably, this figure soared to as much as $288 million during the peak of the selling pressure. Bitcoin And Market Liquidations The persistent inability of Bitcoin to maintain a stable position above $60,000 highlights the uncertainty and speculative nature of the cryptocurrency market. Traders and investors remain cautious, closely monitoring its price movements. This cautious approach has likely been amplified by recent reports of repayments initiated by the bankrupt crypto lender Genesis Global Capital, which flooded the market with add ..
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