Bitcoin Price Tests $110K as Total Liquidations Near $300 Million
2025-07-02 16:22:57
Main Idea
Bitcoin (BTC) is trading near $109,500, approaching the key $110K level and its all-time high, with significant activity in the derivatives market.
Key Points
1. BTC is trading at around $109,500, nearing the pivotal $110K level.
2. The cryptocurrency is close to its all-time high.
3. The derivatives market has seen $300 million in activity, a 32% increase in 24 hours.
4. $190 million of the $300 million in forced-closed trades were short positions.
Description
Bitcoin’s price has managed to complete erase the losses from yesterday and it appears that bulls are on the run again. At the time of this writing, BTC is trading at around $109,500, preparing to test the pivotal technical and psychological level of $110K, sitting right below the cryptocurrency’s all-time high. Data from Coinglass shows that the total number of liquidations across the derivatives market currently sits at almost $300 million – a 32% increase compared to the previous 24 hours. BT...
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