Bitcoin’s Slump Sees Crypto Bulls Staring at $440M in Liquidations

Prices could be headed to as low as $55,000 in the coming weeks, one trader said, but the long-term bullish outlook remains intact.

Bitcoin’s drop below $64,000 led to over $440 million in losses for futures traders, with significant liquidations on Binance and OKX exchanges.

Major cryptocurrencies like Ethereum, Solana, and Dogecoin also suffered losses, with expectations of bitcoin falling further to $55,000 amidst record-high outflows from Grayscale’s GBTC.