Bitcoin’s $10 billion liquidation wave reveals why the AI boom is hurting crypto

BTC

BTC/USDT

$63,074.28

-0.08%

$63,074.28

-0.08%

(24s)

24h Volume

$2,492,922,189.67

24h H/L

$63,175.00 / $62,920.00

Change: $255.00 (0.41%)

Long/Short

67.9%

Long: 67.9%Short: 32.1%

Funding Rate

+0.0026%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$63,133.03

▲ 0.07%

Volume (24h): -

Resistance Levels

Resistance 3$66,089.72

Resistance 2$64,397.36

Resistance 1$63,626.50

Price$63,133.03

Support 1$62,999.35

Support 2$62,275.00

Support 3$61,056.47

Pivot (PP):$63,064.66

Trend:Downtrend

RSI (14):43.6

CryptoSlate Editorial

(01:45 PM UTC)

1 min read

Verified byEmily Watson

0 comments

Bitcoin’s drop toward $60,000 last week exposed how quickly a shift in investor appetite can turn into forced selling when leverage has been rebuilt beneath the surface of the crypto market.

The largest cryptocurrency by market value fell nearly 14% last week, triggering almost $10 billion in liquidations of long futures as traders who had bet on higher prices were pushed out of the market.

Bitcoin…