Bitcoin Stalls at $84K Amid $80M Long Liquidation Wave

Bitcoin's price stagnated at $84,000 on Thursday morning after plummeting from nearly $87,000 to just under $82,900 the previous day. Despite this reversal, market sentiment remains bullish, with traders anticipating another surge like Monday's, when the price jumped from around $82,000 to a high of $87,000.

The cryptocurrency's price hovered above $84,000 for most of the 24-hour period but dipped below that level briefly before rebounding. The same pattern repeated throughout the day, with the price fluctuating between $83,500 and $84,830.

A total of $110 million in leveraged positions were liquidated, with long bets accounting for more than $80 million. This bearish sentiment was also reflected in the broader cryptocurrency market, where long liquidations made up two-thirds of the $332 million in wiped-out leveraged positions.