Bitcoin's $64.6K Break Triggers $85M Liquidation on Hyperliquid

Bitcoin's price has reached a critical level at $64.6K, putting it in a precarious position where breaking above this threshold could lead to a massive liquidation event.

The Hyperliquid platform holds approximately 1.31K BTC worth of leveraged longs that would be automatically unwound if the price surpasses $64.61K, resulting in around $85M in exposure being released onto the market.

This potential release could further accelerate the upward momentum in Bitcoin's price, as it would add fuel to the current bullish trend.

However, the technical indicators are still bearish, with the MACD printing a 'death cross' and the RSI holding neutral at 45.28, suggesting that any sustained break above $64.61K would likely be met with rapid liquidation flows before the next significant price move occurs.