Bitcoin Liquidation of $766 Million: $79,000 Resistance in Focus
— Bitcoin.com
Analysts highlight a $766 million Bitcoin liquidation while pointing to $79,000 resistance.
Bitcoin fell nearly 10% from its early-May high before reclaiming its monthly open, with Bitfinex analysts pointing to $79,000 as a key resistance.
- Bitcoin dropped nearly 10% from its early May high but regained its monthly open.
- According to Bitfinex's report, the May 23 deleveraging event indicates traders are looking at $79,000 as a breakeven point.
- Long BTC traders are currently facing underwater positions.
Liquidations in Bitcoin may create downward pressure on the market, with the $79,000 level being monitored as a potential support or resistance point.