Bitcoin Slides Below $64K As Traders Face $87M In Liquidations

Bitcoin took a sharp turn downward on Friday, slipping below the $64,000 mark after coming close to $67,000 earlier in the week. The sudden price drop brought the total market capitalization down to $1.285 trillion. This quick reversal caught many market participants off guard and wiped out leveraged positions.

Data from the derivatives market shows that Bitcoin traders alone faced roughly $87 million in liquidations. Across the entire cryptocurrency sector, total liquidations climbed to a staggering $312 million as long positions were forcefully closed out during the sell off.

Traders are now watching the charts closely to see if Bitcoin can find solid support at current levels or if further downside is coming. Market watchers suggest keeping an eye on broader trading volumes and weekend price action for clues about the next major move.