Bitcoin Pushes Above $64K as $96M in Bearish Bets Collapse and Momentum Rebuilds
Bitcoin erased its mid-week, geopolitically driven losses on Friday, surging 2% to an intraday peak of $64,653 and lifting the total crypto market cap to $2. 28 trillion. Key TakeawaysOn July 10, bitcoin surged. . .
Bitcoin erased its mid-week, geopolitically driven losses on Friday, surging 2% to an intraday peak of $64,653 and lifting the total crypto market cap to $2. 28 trillion. Key TakeawaysOn July 10, bitcoin surged to $64,653, reversing losses from Middle East tensions. The sudden rally forced a massive $170 million in short liquidations across the crypto market. Bitunix Analyst warns bitcoin’s macro trend relies on holding the critical $64,000 level. Bitcoin Erases Geopolitical LossesOn Friday,bitcoinbreached $64,000, entirely erasing the mid-week losses triggered by sudden geopolitical escalations in the Middle East. After trading just under $62,800 on Thursday afternoon, thecryptocurrencyclimbed steadily to hit an intraday peak of $64,653 just after 9:50 a. m. EST. Although it dipped slightly below the $64,000 mark at the time of writing (12:35 a. m. EST),bitcoinstill secured a 2% gain on July 10, pushing its market capitalization back above $1. 28 trillion. This rally lifted the broadercryptomarket capto $2. 28 trillion—a 1. 5% increase over 24 hours. The sudden upswing caughtbearishtraders off guard, triggering $96 million in short liquidations compared to just $13 million in leveraged longs. Across the widercryptomarket, a massive $236. 50 million in leveraged positions were wiped out, with short liquidations accounting for nearly $170 million of the total. A tense lull settled over the region following 48 hours of intense U. S. bombardments, which observers classified as some of the heaviest since the conflict began. However, experts warn that this pause in kinetic action is merely a prelude to further escalations. The core trigger remains unresolved, as Washington and Tehran remain deadlocked over fundamentally incompatible interpretations of maritime sovereignty and security protocols within the Strait of Hormuz, as spelt out in the memorandum of understanding. Consequently, the unremitting uncertainty cloaking this crucial trade artery is expected to exert a sustained drag on global markets, forcing investors to continuously price in supply-chain disruptions and energy pricevolatility. Meanwhile, the latest Bitunix Analyst report asserts thatbitcoin’s reclaim of the $64,000 resistance level places it at acritical juncture. A sustained breakout above this threshold could signal reviving risk appetite and unlock further upside momentum. Conversely, a failure to defend $64,000 could trigger immediate profit-taking and spark renewed short-termvolatility. While thecryptocurrency’srecent recoveryreflects stabilizing market confidence, analysts emphasize that the broader trend remains tightly bound to macroliquidityconditions and broader investor positioning. Bitcoin rebounded to test the $63,000 threshold, recovering from a 3% drop to under $61,500. Recovery came despite growing military…Bitcoin Bulls Reclaim $63,000 After 3% Slide as Traders Bet the Sell-Off Has EndedBitcoin rebounded to test the $63,000 threshold, recovering from a 3% drop to under $61,500. Recovery came despite growing military…Bitcoin rebounded to test the $63,000 threshold, recovering from a 3% drop to under $61,500. Recovery came despite growing military…