In the last 24 hours, Bitcoin (BTC) faced a significant market event with liquidations amounting to $190 million. The cryptocurrency has been unsuccessful in breaking the pivotal $70,000 resistance level, which remains a psychological and technical barrier for traders.
Bitcoin remains in a range-bound state without reaching a new all-time high (ATH). According to CoinGlass data, this turmoil affected more than 60,000 traders who had anticipated a positive breakout in price.
The current market conditions pose questions about Bitcoin's ability to rebound and what strategies traders can employ under these volatile circumstances.
