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Crypto

Bitcoin Whale Suffers $23M Short Liquidation as Price Hits $65K

Guavy AI Editorial Team
Instruments
BTC
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A significant short position held by a Bitcoin whale on Bitget was liquidated when the price of BTC broke past $65,000. The whale lost $23.36 million in margin as the price surged past this level.

The remaining 1,440 BTC is now at risk at a liquidation level of $65,042. This comes after a price test of $64,837, which also coincided with upper resistance.

Technical analysis suggests that the confluence of overbought RSI(14) and MACD confirming a bullish golden cross points to a probable retracement towards EMA50 support at $63,751.76 before any continuation higher.

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