Bitcoin Rejected at $65K, Over $160 Million in Liquidations

After pushing toward $65,000 on Monday, Bitcoin faced a strong rejection just below that mark, leading to a wave of liquidations in the market. The volatility hit over-leveraged traders hard, with more than 60,000 positions liquidated, amounting to over $160 million in losses.

Bitcoin surged to a four-week high of $64,800 following positive momentum from the Fed’s recent 0.5% interest rate cut. However, BTC couldn't sustain the gains and is now trading about $1,000 lower. Altcoins like ETH and BNB have fared slightly better, with daily gains of over 2%. The largest liquidation came from an ETH position on Binance, worth $2.73 million.