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

BTC

BTC/USDT

$79,711.80

+0.37%

$79,711.80

+0.37%

(24s)

24h Volume

$11,416,161,993.26

24h H/L

$79,877.07 / $78,660.00

Change: $1,217.07 (1.55%)

Long/Short

52.9%

Long: 52.9%Short: 47.1%

Funding Rate

-0.0008%

Shorts pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$79,682.25

▲ 0.03%

Volume (24h): -

Resistance Levels

Resistance 3$91,281.84

Resistance 2$88,315.23

Resistance 1$80,810.13

Price$79,682.25

Support 1$79,635.96

Support 2$76,172.06

Support 3$74,131.55

Pivot (PP):$79,916.17

Trend:Sideways

RSI (14):66.5

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…