Bitcoin Drops Below $71,000 Triggering $627M in Liquidations Amid Strategy's BTC Sale
By
Terence Zimwara
10d ago· 4 min readenNews
85/100
Golden Brown
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Master baker tier. Every paragraph earns its place on the tray.
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Summary
Bitcoin fell below $71,000 for the first time since April, triggering a 5% drop and $627 million in crypto liquidations. The sell-off was fueled by Strategy's sale of 32 BTC and ongoing geopolitical tensions. The broader crypto market cap shrank to $2.52 trillion as leveraged positions were wiped out.
Key quotes
· 3 pulledBitcoin kicked off June by tumbling below $71,000 for the first time since April, triggering a broader market sell-off that wiped out $627 million in leveraged positions
Bitcoin started June on the back foot, tumbling below $71,000 for the first time since April 13
bitcoin dropped to an intraday low of $70,574, a nearly 5% decline from its 24-hour peak of $74,000
BTCs drop below $71K triggers $627M in crypto liquidations. Discover how geopolitical strife and Strategy's BTC sale fueled the bearish turn.
