• Bitcoin bears at risk of $600M liquidation, raising chance for rally to $70K Despite bearish pressure and weak US economic data, Bitcoin’s recovering hashrate and new onchain security protocols raise the chance for a surge to $70,000. • Cointelegraph in your social feed Key takeaways: A minor 4.3% Bitcoin price increase to $69,600 could trigger over $600 million in forced liquidations for bearish traders. • A minor 4.3% Bitcoin price increase to $69,600 could trigger over $600 million in forced liquidations for bearish traders. • Rising network hashrate and the BIP-360 quantum security proposal are helping to diminish long-term technical concerns. • Rising network hashrate and the BIP-360 quantum security proposal are helping to diminish long-term technical concerns. • Bitcoin (BTC) has remained confined within a relatively tight range of $65,900 to $70,500 over the past week.
Article Summaries:
- Bitcoin’s price hovering near $69,600 could trigger more than $600 million in forced liquidations of bearish futures positions, potentially tipping momentum back toward the bulls. The move would be a 4.3 % rise from the $66,700 level, and CoinGlass estimates that such a rally would wipe out a larger short‑position balance than the $385 million liquidated during the February spike. Bitcoin has traded in a tight $65,900-$70,500 band, keeping bearish sentiment high. Meanwhile, a recovering network hashrate (1,100 EH/s) and the BIP‑360 quantum‑security proposal are easing long‑term technical concerns. Weak U.S. GDP growth, higher inflation, and Middle East tensions are dampening equity risk appetite, potentially driving investors toward on‑chain assets.
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