Bitcoin rebounded to $64,000 after an intraday low of $61,500 on Thursday. The crypto market saw nearly $1.76 billion in liquidations over 24 hours, with Bitcoin and Ethereum experiencing corrections. Market analysts cite ETF outflows and geopolitical uncertainty as contributing factors.
The significant liquidation event and price volatility highlight the sensitivity of the crypto market to macroeconomic factors, ETF flows, and geopolitical events, indicating potential for continued choppiness.
Bitcoin experienced a rebound on Thursday, moving from an intraday low of $61,500 back up to $64,000. This price action occurred amidst significant market turmoil, with total cryptocurrency liquidations reaching nearly $1.76 billion over the preceding 24 hours. Both Bitcoin and Ethereum saw corrections, alongside other major altcoins. Market analysts have pointed to a combination of factors contributing to the selloff, including outflows from Bitcoin ETFs and broader geopolitical uncertainty. Investors are now closely monitoring upcoming US economic data for further market direction.
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