{"id":74458,"date":"2026-06-23T22:15:44","date_gmt":"2026-06-23T22:15:44","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-traders-defend-62000-support-as-171m-liquidation-wave-hits-top-crypto\/"},"modified":"2026-06-23T22:15:44","modified_gmt":"2026-06-23T22:15:44","slug":"bitcoin-traders-defend-62000-support-as-171m-liquidation-wave-hits-top-crypto","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-traders-defend-62000-support-as-171m-liquidation-wave-hits-top-crypto\/","title":{"rendered":"Bitcoin Traders Defend $62,000 Support as $171M Liquidation Wave Hits Top Crypto"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bitcoin fell 3.6% to an intraday low of $61,860 as the aggregate crypto market cap declined by nearly 3%.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">The rout triggered $171 million in crypto liquidations, forcing 11,202 Coinglass traders out of positions.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Tx co-founder Mike McCluskey warns that a $10.6 billion options expiry on June 26 will test the $60,000 mark.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Market Capitalization and Support Levels<\/h2>\n<p> <span>Bitcoin<\/span> reversed course Tuesday, shedding roughly $2,500 in 24 hours amid a broader <span>cryptocurrency<\/span> sell-off that wiped nearly 3% off the market\u2019s aggregate capitalization. According to market data, the premier <span>cryptocurrency<\/span> traded below $64,500 shortly after midday on June 22, then slumped to an intraday low of $61,860 before staging a minor rebound to just under $62,500.<\/p>\n<p> <iframe src=\"https:\/\/markets.bitcoin.com\/crypto\/bitcoin\/embed\" width=\"100%\" style=\"max-height:500px;height:500px;border:none;overflow:hidden;border-radius:4px\" scrolling=\"no\" title=\"bitcoin market data\"><\/iframe> <\/p>\n<p>Despite subsequent <span>volatility<\/span>, <span>bitcoin<\/span> found firm <a href=\"https:\/\/news.bitcoin.com\/bitcoin-sellers-control-volume-as-62k-support-faces-its-biggest-test-of-june\/\">support<\/a> just above $62,000 but repeatedly stalled whenever it tested the $62,500 resistance level. At the time of writing (2:21 a.m. EST), <span>bitcoin<\/span> was trading just under $62,300\u2014a 3.6% decline over 24 hours. The daily slide dragged <span>bitcoin<\/span>\u2019s total <span>market cap<\/span> down to $1.25 trillion, down from its Monday peak of $1.3 trillion.<\/p>\n<p>The downturn triggered $171 million in total <span>crypto<\/span> liquidations, with long bets accounting for $158 million of the losses. Coinglass data revealed that 11,202 traders worldwide were liquidated during the 24-hour rout, with the largest single <span>liquidation<\/span> valued at $7.06 million.<\/p>\n<p>The <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">crypto<\/a> slump mirrored a broader sell-off across global equity markets, where several major indices posted steep losses. South Korea\u2019s Kospi led the decline, plunging nearly 10% and triggering a trading halt <a href=\"https:\/\/news.bitcoin.com\/near-400-point-nasdaq-drop-shows-how-the-semiconductor-led-selloff-hit-us-financial-markets\/\">amid a sharp pullback in tech stocks<\/a>. Analysts largely attributed the souring investor sentiment to a narrowing path for Federal Reserve interest rate cuts.<\/p>\n<p>However, Mike McCluskey, co-founder of Tx, argues the Fed\u2019s trajectory is only half the story. Instead, he points to telling signals within the options market and spot <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a> exchange-traded fund (ETF) flows.<\/p>\n<p>\u201cWe are witnessing a record 30-day net outflow exceeding $6 billion across the spot <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-Bitcoin-ETF\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">Bitcoin ETF<\/a> complex,\u201d McCluskey said. \u201cThis isn\u2019t a momentary dip, but rather a sustained period of institutional de-risking from the very cohort that has driven much of this cycle\u2019s momentum. Until this flow data demonstrates a definitive reversal, any relief rallies are likely to find a hard ceiling, regardless of intraday <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-volatility\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">volatility<\/a> in the spot market.\u201d<\/p>\n<p>McCluskey added that the upcoming June 26 options expiry on Deribit introduces further complexity, with roughly $10.6 billion in notional value on the line. The concentration of open interest paints a clear picture: nearly 80% is currently out of the money, anchored by heavy positioning at the $60,000 put and $80,000 call strikes.<\/p>\n<p>\u201cWhile \u2018max pain\u2019 sits near $74,000, I\u2019m skeptical of its ability to pull price action higher,\u201d McCluskey said. \u201cInstead, these levels serve as a barometer for how overextended positioning has become. The $60,000 mark represents a very real technical and psychological threshold that has already faced interrogation this month.\u201d<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/bitcoin-traders-defend-62000-support-as-171m-liquidation-wave-hits-top-crypto\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Bitcoin fell 3.6% to an intraday low of $61,860 as the aggregate crypto market cap declined by nearly 3%. The rout triggered $171 million in crypto liquidations, forcing 11,202 Coinglass traders out of positions. Tx co-founder Mike McCluskey warns that a $10.6 billion options expiry on [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":74459,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/74458"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=74458"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/74458\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/74459"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=74458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=74458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=74458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}