Crypto Liquidations Top $75 Million As Bitcoin Tests $70,000 For the First Time in April

Bitcoin reclaimed above the $70,000 psychological level on Monday, testing levels last seen in March. The move caught traders off-guard, especially the naysayers, blowing tens of millions in positions out of the water. Bitcoin Briefly Tests $70,000, Liquidates Over $70 Million Short Positions The move above $70,000 lasted only briefly, with the pioneer crypto trading for $69,743 as of this writing after recording an intra-day high of $70,283 on the Binance exchange. Bitcoin Price Performance. The move was abrupt, blowing out $71 million in short positions while nearly $4 million in positions were also liquidated. Total liquidations in the last hour reached $75 million. According to data from Coinglass, 85,506 traders were liquidated over the past 24 hours, with total liquidations totaling $324.83 million. Crypto Liquidations. The move above $70,000 inspired bullish bets among Bitcoin traders, as the Weighted Volume Profile Pivot Points (WVPPP) indicator showed a strong bullish signal above the $70,000 psychological level. Bitcoin Price Performance and WVPPP Indicator. Looking at the above 4H BTC/USDT chart with the WVPPP indicator, above $70,000, the WVPPP bars thin out dramatically. Buy-side dominance runs 7080% at current levels near $70,283, but participation drops fast above $70,500. The $70,500$71,500 range is a low-volume gap with minimal resistance. Sellers only clustered near the $71,961 high. Thin air fast moves likely in either direction.