Bitcoin Price Fluctuates Around $64,000 as Long Positions Account for Nearly $1.2 Billion in Liquidations

Bitcoin's price has been on a wild ride in recent times. After pulling back from its high, BTC rebounded quickly and is currently fluctuating around $64,000. In the past 24 hours, liquidations across the network amounted to about $1.6 billion, with long positions accounting for nearly $1.2 billion.

This indicates that yesterday's FOMO capital has already been washed out once. However, despite this, the market has not completely turned weak yet. Longs still have the advantage, and funding rates are showing signs of rebalancing, indicating that some long capital is re-entering the market.

The core issue right now is whether large capital will step in to support the price. The short-term FOMO capital has been flushed out, but it's unclear if this will be enough to sustain a rebound.