Bitcoin Longs Liquidated as Price Falls Below $60K

Bitcoin has experienced significant liquidation of long positions, totaling over $140 million, as its price dropped below $60,000. This “cascading long squeeze” was triggered by speculators selling off their holdings to cut losses, further driving the price down. The market remains volatile, with analysts pointing to ongoing economic uncertainties and the impact of Mt. Gox repayments.Read more on Decrypt