In the past 24 hours, the Bitcoin futures market has shown a significant disparity in liquidations of long and short positions.

Overview of Bitcoin Market Liquidations

According to CoinGlass, total liquidations in Bitcoin derivatives over this period exceeded $4.82 million. Of these, 78% belong to long positions, indicating a dominance of bulls seeking to profit from potential price rises.

Bitcoin Price Dynamics Amid Liquidations

Yesterday, Bitcoin showed promising price action, surpassing $62,000 per BTC, fueling optimism about reaching a new all-time high. However, the market quickly reversed, resulting in a wave of long liquidations.

Bitcoin Price Outlook in the Near Future

The current market situation leaves traders eyeing $53,000 and $66,000 as key levels. Bulls aim to maintain the upper boundary, needing to secure above $60,700 for sustained growth.

Despite recent price actions, the Bitcoin market remains uncertain. Investors are assessing the next steps, aiming to hold strong support and resistance levels.