Bitcoin Faces $442M in Long Liquidations If Price Drops Below $63,351

BitcoinWorld Bitcoin Faces $442M in Long Liquidations If Price Drops Below $63,351 Bitcoin traders are on alert as on-chain data reveals that a drop below $63,351 could trigger approximately $442 million in long position liquidations across major centralized exchanges.

The data, compiled by CoinGlass, highlights the precarious positioning of leveraged traders in the current market environment. Key Liquidation Levels to Watch According to CoinGlass, the $63,351 threshold is a critical support level for long positions.

If Bitcoin’s price falls to this level, it could cascade into a wave of forced selling, amplifying downward pressure.

Conversely, if the price rises above $64,605, around $267.34 million in short positions would be liquidated, potentially fueling a short squeeze that could push prices higher.