Zag net that last week quite a few positions were liquidated when Bitcoin even dipped to $60k . About 65k in crypto bets were wiped out in a short period — many traders were holding leveraged positions that didn't turn out well. First they got hit during the drop, then they were wrong when it went back up.

The price took a hit of 13% on Thursday, the worst day since November 2022. When it recovered above $65k on Friday, new liquidations occurred because many positions were misconfigured. It really feels like a market driven by leverage rather than genuine conviction.

The fluctuations also impact altcoins — Solana dropped 14% at one point before quickly recovering that loss. That says a lot about how fragile the sentiment is. With the current BTC price around $700 , it looks like the market is regaining some stability, but these liquidations show how dangerous leverage trading can become as volatility increases.