Bitcoin (
BTC
) reached a peak of $63,794 on Monday, showing a 2% increase against the U.S. dollar within 24 hours. Currently, the price stands at $63,070 per unit. The upward movement led to $124.64 million in liquidations for crypto shorts and longs, with bitcoin shorts accounting for $49.85 million.
The value of Bitcoin against the dollar has risen in the past day, hitting $63,794 before facing resistance. The entire crypto market has seen $72.56 billion in trading volume, a 54.07% surge in 24 hours, with approximately 38.21% coming from
BTC
trades.
According to data from
cryptoquant.com
, there has been a premium of 1.8% to 1.5% on
BTC
prices in South Korea since June 28. While Bitcoin is trading at $64,174 on Upbit, the global average remains at $63,070. As of July 1, the premium on Upbit and Bithumb is about 1.75%. The day’s indicators suggest a bullish trend.
Derivatives market metrics from coinglass.com reveal that $124.64 million in liquidations took place across the crypto market, with $49.85 million in short positions against
BTC
being wiped out. Additionally, $27.17 million in shorts for
ETH
and $6.75 million for SOL were liquidated.
The largest single liquidation order occurred on Binance, resulting in a $4.39 million liquidation of
BTC
/USD positions. Over the past 24 hours, 37,533 traders in the crypto market faced liquidation. Following a drop to $63,070 per
BTC
, the leading cryptocurrency bounced back to $63,265 at 4 p.m. EDT, potentially forming a support level at $63,000.
The future movement of Bitcoin remains uncertain as it continues to trade at the $63,000 level. What are your thoughts on Bitcoin’s price action on Monday? Feel free to share your opinions in the comments below.
