Bitcoin Bulls Reclaim $63,000 After 3% Slide as Traders Bet the Sell-Off Has Ended
The post Bitcoin Bulls Reclaim $63,000 After 3% Slide as Traders Bet the Sell-Off Has Ended appeared on BitcoinEthereumNews.com. Key Takeaways Bitcoin recovered to $63,000 on Thursday after dropping over 3 percent on U.S.-Iran military clashes. Coinglass data showed over $52 million in liquidations as Brent crude oil fell under $76 per barrel. Structural bulls predict bitcoin will strengthen past July as macro debt outpaces liquidity shocks. Bitcoin Reclaims Key Support After Sharp Drop On Thursday, bitcoin recovered slightly from its more than 3% tumble over the previous 24 hours as it tested the $63,000 threshold again. The cryptocurrency’s recovery came even as tensions in the Middle East remained high after U.S. and Iranian forces exchanged fire for the second consecutive day. Daily chart data show that hours after tumbling below $61,500, bitcoin recovered and held above $62,000 until around 9:45 p.m. Eastern time on Wednesday. A sudden sell-off briefly pulled the price just undern