Bitcoin Dips Below $64K, Triggers Over $100M In Liquidations: 'Consolidation Phase Ongoing,' Says Trader
Portfolio Pulse from Murtuza Merchant
Bitcoin (BTC) dipped below $64,000, triggering over $27 million in long position liquidations within 24 hours. The broader cryptocurrency market saw $132 million in liquidations, with long positions accounting for $105 million. Trader Jason Pizzino suggests this is a consolidation phase before a potential surge later in the year, with increased activity possibly returning in Q3 2024.
June 21, 2024 | 5:22 pm
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Bitcoin dipped below $64,000, causing significant liquidations in long positions. Trader Jason Pizzino views this as a consolidation phase before a potential surge later in the year, with increased activity possibly returning in Q3 2024.
The dip below $64,000 and the significant liquidations indicate short-term bearish sentiment. However, the view of this being a consolidation phase suggests potential for future recovery, particularly in Q3 2024.
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