Bitcoin flirts with $70,000 as digital assets face $156 million in liquidations in past 24 hours

Quick Take

Bitcoin continues to make headlines as it flirts with the $70,000 mark. Earlier today, it briefly surpassed $70,200 just before the US markets opened before retreating back to around $69,100. This marked a notable 5% increase from its recent low on May 31. According to Coinglass, the past 24 hours have seen significant liquidations in the digital assets market, totaling over $157 million. Of these, nearly $100 million were long positions, and approximately $59 million were short.

Coinglass data shows that Ethereum experienced even more liquidations than Bitcoin during the same 24-hour period. Out of the $37 million liquidated in Ethereum, $28 million were long positions, highlighting the volatility in the digital asset ecosystem.

Meanwhile, MicroStrategy Inc. (MSTR), has seen its stock price rise by almost 7%, currently trading around $1,624.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

@jvs_btc LinkedIn Email James

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