🧵 $BITCOIN Market Update: The $67K Support Breach
The crypto market is feeling the heat today as Bitcoin ($BTC) has officially slipped below the $67,000 mark. This downward movement has triggered a massive wave of liquidations, catching many over-leveraged traders off guard.
The Fallout:
In just the last 4 hours, over $127.2 million worth of long positions have been wiped out. When the price drops this sharply, it creates a "long squeeze," forcing automated sells and driving the price down further.
The Fundamentals:
Beyond the price action, we are also seeing a #BTCMiningDifficultyDrop. While price volatility grabs the headlines, the shift in mining difficulty is a crucial metric to watch for the network's long-term stability and hash rate adjustments.
Stay sharp and manage your risk.
Analysis by @SaleeM_MeYo
#Bitcoin #Crypto #Liquidations #BTC $BTC
