Bitcoin Risks Drop to $60K on Liquidation Cascade
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Bitcoin is trading below $78,000 as weakening demand from US spot ETFs collides with a buildup of leveraged positions that could deepen selling if key support levels fail. Data from CryptoSlate shows the largest digital asset near $77,400 after briefly clearing $82,000 earlier this month. The retreat follows a setup indicating Bitcoin could drop to $60,000, tied to a potential $14 billion liquidation cascade if support at $75,000 breaks. The convergence of declining institutional inflows and excessive leverage raises the risk of a sharp correction, with open interest remaining elevated. Traders should monitor the $75,000–$78,000 zone closely, as a breakdown could trigger forced liquidations, accelerating the move toward $60,000.
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