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Bitcoin Price Dips Below $67K, Pausing Hopes for ATH Rally

Summary:
Bitcoin’s price took a turn for the worse in late Monday evening in Europe. The sellers have reappeared and established control, pushing the cryptocurrency below ,000, losing about 2.5% in the past 24 hours. The move has pushed the total liquidations in the derivatives market to about 0 million. In the past four hours alone, almost million worth of leveraged positions—the majority of them long — were wiped off the market. Source: CoinglassThis latest move caused a lot of uncertainty in the market, with many wondering whether the rally to a new all-time high is put on pause. Some popular traders such as X user Emperor even suggested that a further decline to ,000 might be in the cards. Bitcoin Price Update 1. Backtest of ,000 level held and we moved higher.

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Bitcoin’s price took a turn for the worse in late Monday evening in Europe. The sellers have reappeared and established control, pushing the cryptocurrency below $67,000, losing about 2.5% in the past 24 hours.

The move has pushed the total liquidations in the derivatives market to about $200 million. In the past four hours alone, almost $70 million worth of leveraged positions—the majority of them long — were wiped off the market.

Source: Coinglass

This latest move caused a lot of uncertainty in the market, with many wondering whether the rally to a new all-time high is put on pause.

Some popular traders such as X user Emperor even suggested that a further decline to $62,000 might be in the cards.

The majority of the market is currently in a state of correction, as it’s clearly visible in the heatmap below. It’s worth noting that the declines remain relatively marginal at the time of this writing.

Source: CoinMarketCap

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