Bitcoin hits $65,000, $56 million in leveraged short positions liquidated

Odaily Planet Daily News Bitcoin briefly touched $65,000 on Tuesday, rising 0.5% on the day and over 2% on the week, with a market cap approaching $1.3 trillion. Earlier, Bitcoin had been fluctuating above $64,000 before climbing about $1,000 to $65,000 within an hour. Market data shows strong selling pressure near the $65,000 level.\n Data from crypto data platform Coinglass shows that Bitcoin's volatility over the past 24 hours has led to the liquidation of $56 million in leveraged short positions, along with $4 million in long positions. Across the entire market during the same period, total long-position liquidations amounted to $108 million.\n Skybridge Capital founder Anthony Scaramucci stated that Bitcoin is currently in a bear market, but this cycle's pullback of approximately 55% is lower than the 75% to 80% seen in previous cycles, indicating that some buyers have already positioned for the next phase of growth. Blockchain analytics platform Glassnode noted that strong hands are buying Bitcoin, with conviction buyers showing the largest increase in holdings when the price dropped to $60,000 in January this year. (Bitcoin.com News)