![Bitcoin back above $66k after weekend of panic selling](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2024/04/total-liquidations-chart.jpg&w=70&h=37&q=75)
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.
![BTCUSD: (Source: TradingView)](https://cryptoslate.com/wp-content/uploads/2024/04/btc-3.png)
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.
![Total Liquidations: (Source: Coinglass)](https://cryptoslate.com/wp-content/uploads/2024/04/ll-1.png)