🎉Happy 4th of July, #Bitcoin!🎉 Celebrating with a 2% dip, testing a key support line for the first time since Oct 2023. 🎢

Some say it's due to a lack of positive sentiment & consistent selling pressure. But hey, what's a party without a little drama? 😅

24-hour Bitcoin long liquidations are nearing $60M. BTC/USD crossed its 200-day MA for the first time in 10 months. But don't panic, the 200-day MA is at $58,400, slightly below the spot price after a brief bounce. 🏀

DecenTrader warns of long liquidations closer to $50K if the price continues to drop. But remember, every cloud has a silver lining. If Bitcoin does breakdown, $51K-$52K remains the area with significant 3x, 5x, and 10x longs liquidity. 🌈

Capriole Investments' founder, Charles Edwards, points to significant sell-side pressure throughout the year. But hey, we're optimists here! ETFs are not the only demand factor in the current market. 💪

So, what's your take on this roller coaster ride? Share your thoughts below! Let's keep the conversation going. #DeFi #Web3 #Technology