Bitcoin slipped under $64,000 on July 28, triggering roughly $100 million in leveraged position liquidations across the crypto market within an hour. It's the third time this week that traders have been flushed out around that same level.
The $64,000 level
The price drop below $64,000 didn't last long, but it was enough to set off a cascade of forced selling. Data shows that about $100 million in long and short positions were wiped out in the span of 60 minutes. The move comes after two earlier tests of the same price zone earlier this week, each time leading to a similar flush of leveraged traders.
Liquidations in focus
The $100 million figure represents a mix of positions across major exchanges. While that's not an enormous number by historical standards, the speed of the liquidation — all within an hour — suggests a concentrated trigger. The repeated pattern at $64,000 has traders watching closely for whether the level will hold or break more decisively.
Repeated flush-outs
This is the third time in seven days that the market has seen a sharp move around $64,000. Each instance has followed a similar script: a quick dip below the round number, a burst of liquidations, and then a partial recovery. The consistency raises questions about the depth of support at that price point and whether large players are deliberately testing it.
For now, the $64,000 mark remains a key battleground, with the market testing it for the third time this week. No clear catalyst has been identified for the latest move, and trading volumes remain in line with recent averages.
