Bitcoin (BTC) Price Collapsing Again After Short-Lived Recovery

BTC

$65,720

-2.96%

Cover image via U.Today

The Bitcoin (BTC) price is on the ropes once again, struggling to gain enough bullish momentum.  

Earlier this Thursday, the largest cryptocurrency slipped below the $65,000 level on major spot exchanges, according to data provided by CoinGecko. 

Over the past four hours alone, more than $37 million worth of long positions have been liquidated, CoinGlass sta shows. 

However, short positions are still in the lead by liquidations over the past 24 hours, nearing $120 million. 

A short-lived bounce  

On Wednesday, Bitcoin bulls gathered enough strength to convincingly push the price of the largest cryptocurrency above the $67,000 level following dovish comments made by Federal Reserve Chairman Jerome Powell. In fact, Bitcoin even briefly managed to top $68,000 before retracing lower. However, this resistance level has proven to be very tough to crack.#HotTrends #ETH #BOME #crypro #STX