Bitcoin Hits 4-Month Low as $1B Liquidations Fuel Bottom Calls

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Bitcoin fell to roughly $61,500 in early Asian trading hours, marking its lowest level since early February. The sell-off wiped out more than $1 billion in leveraged positions across the crypto market in 24 hours. Compass Point analyst Ed Engel said long-term holders sold about $2.4 billion in Bitcoin. Scott Melker said oversold weekly RSI and cycle timing resemble prior major low formations.
BTC2.69%
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