BTC Price Reclaims $64K as Over $175 Million in Total Liquidated

Bitcoin's price has breached the $64,000 threshold, causing over $175 million in total liquidations. Over $150 million in shorts position were wiped out, with Binance seeing the most liquidations, with the largest single order being $5.09 million for the Ethereum/USDT trading pair. The price reached an intra-day high of $64,540 on May 4, and trading volume rose by over 15% despite an expected weekend lull. Binance exchange recorded the most liquidations at $72.57 million, followed by OKX at $61.59 million.


The largest single liquidation order was witnessed on Binance, where up to $5.09 million went down the drain for the Ethereum trading pair against Tether (USDT) stablecoin. The move saw Bitcoin break above a month-long trendline that acted as resistance, and traders looking to long BTC should exercise caution due to expected weekend volatility.