Bitcoin’s price drop below $64K escalates the risk of short liquidation.

Bitcoin (BTC) saw a decline on April 25 as a result of a sudden reaction to geopolitical news, causing bulls to lose up to 5%.
After renewed tensions in the Middle East, BTC price attempted to find support at $64,000 before the Wall Street market opened. Prior to this, it had dipped to $63,575 at the end of the previous day.
According to data from Cointelegraph Markets Pro and TradingView, liquidity increased on both sides of the spot price on various crypto exchanges. Notably, a significant number of sell orders appeared, ranging from $75 million at $64,765 to $67,700.
On the downside, there was relatively low interest in buying at $63,500, which was the lowest price point of the day.
Bitcoin filled one of the two recently-created CME Group futures gaps with its latest decline.
Popular trader Daan Crypto Trades commented on the current situation, highlighting the “healthy” funding rates as a positive sign for a gradual recovery in BTC price. He emphasized the importance of maintaining stability and cautioned against rushing into long positions.
In its recent market updates, trading firm QCP Capital noted a shift in crypto sentiment on short-term timeframes, with the market expecting the upside to be limited and the spot price to consolidate in the near future.
Meanwhile, spot Bitcoin exchange-traded funds (ETFs) in the United States experienced net outflows on April 24, primarily due to outflows from the Grayscale Bitcoin Trust (GBTC). The largest ETF offering from asset manager BlackRock saw no inflows.
Spot ETFs are set to begin trading in Hong Kong on April 30, further expanding Bitcoin’s institutional adoption.
Disclaimer: This article does not provide investment advice or recommendations. Readers should conduct their own research before making any investment or trading decisions.