Bitcoin Falls to One Month Low as Liquidations Near $1 Billion Bitcoin plummeted to a one month low of $74,344 on Saturday before recovering some ground, triggered by a combination of ETF outflows and leveraged positioning.
The sharp drop was accompanied by $1 billion worth of liquidations over the past 24 hours, with long positions accounting for $827 million of the total.
The rising Treasury yields have tightened the backdrop for risk assets like Bitcoin, making it more susceptible to macro pressure.