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Crypto

Bitcoin Surges Past $65k Amid $263M Liquidations

Guavy AI Editorial Team
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BTC
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Bitcoin has broken through the $65,000 barrier after a period of consolidation. This move comes as $263 million in leverage positions were liquidated across crypto markets over the past 24 hours.

The price action on the four-hour chart shows Bitcoin testing its upper Bollinger Band resistance at $64,835.47. The Relative Strength Index (RSI) is currently at 72.08, indicating overbought conditions, while the Moving Average Convergence Divergence (MACD) has confirmed a golden cross at 290.08.

This surge in price appears to align with predictions from models that track post-liquidation flows, which could reduce near-term risks of a crypto market crash after six months of consolidation.

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