Posted 4/16/2024, 4:02:16 AM
Bitcoin Price Drops Below $63K Ahead of 2024 Halving Event, Liquidating $276M in Longs and Shorts
- Bitcoin (BTC) price declined 3.9% in the last 24 hours to $63,118, surprising investors
- Over 96,000 traders liquidated long and short positions totaling $276M in last 24 hours
- Bitcoin Fear and Greed Index decreased from 74 to 65, indicating increased fear
- Decline coincides with upcoming Bitcoin halving event on April 20, 2024
- Analysts see cyclical "Pre-Halving Retrace" pattern across Bitcoin cycles before potential price surges
