Bitcoin back above $66k after weekend of panic selling Quick Take
The digital asset ecosystem experienced a shaky weekend, with Bitcoin plummeting to around $65,000 from its $70,000 trading price on Friday, April 12. The downward trend continued into the weekend, with Bitcoin further declining to $60,800 amidst geopolitical tensions in the Middle East on Saturday evening. However, following a reduction in tension and the approval of Hong Kong ETFs Bitcoin has recovered back above $66,000.
According to Coinglass, April 12 witnessed approximately $880 million in liquidations, with long liquidations accounting for roughly $780 million. The following day, April 13, saw even more liquidations at roughly $950 million, with long liquidations comprising around $770 million. These two events marked one of the most significant long liquidation incidents since October, second only to March 5, which saw liquidations exceed $850 million.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.