Bitcoin Holds Near $66K as $339M Liquidations Hit, Exchanges Shed 11,236 BTC

Bitcoin News

Capital continued rotating into Bitcoin over the latest session even as the broader market stayed mixed. Tracking data covering a five-hour window showed roughly $19.77 million flowing into BTC, the largest single-asset inflow, ahead of Hyperliquid at $5.83 million, Uniswap at $2.78 million, Stellar at $2.76 million, XRP at $2.5 million and Ether at $2.11 million. Fresh fiat also entered, with about $22.61 million in dollar inflows and additional won-denominated buying, while USDT supplied $20.99 million of stablecoin liquidity. Offsetting that, BTC saw $1.31 million in outflows and some funds rotated back into cash, underscoring the cautious, two-way positioning across the market.

Derivatives saw a violent shakeout that punished bullish bets. Over 24 hours, roughly 90,749 traders were forcibly closed for a combined $339.38 million, with long liquidations of $203.01 million accounting for about 60% of the total versus $136.37 million in shorts. The damage clustered in a half-day window, where the 12-hour tally jumped to $144.15 million. Ether led at $104.01 million liquidated, while Bitcoin saw $71.39 million unwound, including $51.93 million in longs. Among altcoins, Worldcoin surged nearly 14%, sparking outsized short liquidations as price whipsawed traders on both sides.

Institutional validation arrived on the exchange side, as Korean platform Coinone secured strategic equity investments from Korea Investment & Securities and global exchange OKX. To mark the deal, Coinone launched a month-long campaign running from June 16 to July 15 for both new and existing members. New sign-ups who register a dedicated event code receive roughly 30,000 won worth of Bitcoin credited instantly as a real asset, lowering the entry barrier for first-time buyers. A parallel social-media promotion will distribute USDT stablecoin rewards to 3,333 selected participants, signaling deeper ties between regulated finance and crypto exchanges.

Positioning data showed wealthier investors crowding into the largest names amid elevated volatility. Bitcoin topped allocation rankings at 82% of high-net-worth portfolios, followed by Ether at 79% and XRP at 70%, with Solana at 47% and Ethereum Classic at 35% rounding out the leaders. The skew toward liquid, high-recognition assets is a classic risk-off pattern. At the same time, a cluster of smaller tokens flashed single-digit RSI readings deep in oversold territory, a technical signal that historically precedes sharp mean-reversion bounces but does not guarantee an immediate recovery without volume confirmation.

Trading activity cooled noticeably as the market settled into a wait-and-see posture. Daily turnover fell about 22.33% to roughly $24.55 billion, indicating thinner participation after the recent rebound. Sentiment improved modestly, with a widely watched fear gauge ticking up to 25 from 24 and recovering from last week's extreme-fear print near 14. Bitcoin dominance eased to 58.40% as some capital drifted toward altcoins. Exchange-held supply slipped to about 2.7 million BTC alongside a net outflow of 1,217 BTC, easing sell-side pressure, though a still-negative MACD kept the medium-term trend tilted bearish.

On-chain flows reinforced the supply-tightening narrative. Aggregate exchange balances fell to roughly 2,484,431 BTC, with about 4,208 BTC leaving venues over 24 hours and 11,236 BTC withdrawn across the week, even as the monthly figure still showed net inflows near 29,383 BTC. Binance led daily withdrawals with about 4,702 BTC exiting, extending a weekly outflow above 5,100 BTC, while Coinbase Pro remained the largest custodian at roughly 852,216 BTC. Falling reserves typically reflect coins moving into long-term storage, a constructive backdrop that nonetheless competes with subdued spot volumes.

COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $64,759 support at 74/100, driven by the confluence of an S3 pivot, the Fibonacci 0.236 retracement and the prior-day low, with secondary support at $62,910 scoring 65/100 from the volume point of control and the ATR lower band. On the upside, the engine scores the $66,274 resistance at 71/100 (R1, Ichimoku Senkou A, prior-day high), ahead of a 75/100 wall near $70,960. Derivatives stay lightly bullish: funding at 0.0032%, open interest of $12.19 billion and a 1.51 long/short ratio (60.1% long). With Fear & Greed at 22 and an RSI of 42.82, a daily close below $62,910 would invalidate the recovery thesis.