{"id":74861,"date":"2026-07-02T18:48:45","date_gmt":"2026-07-02T18:48:45","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-pushes-above-62000-after-whales-add-270000-btc-forcing-130m-in-short-losses\/"},"modified":"2026-07-02T18:48:45","modified_gmt":"2026-07-02T18:48:45","slug":"bitcoin-pushes-above-62000-after-whales-add-270000-btc-forcing-130m-in-short-losses","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-pushes-above-62000-after-whales-add-270000-btc-forcing-130m-in-short-losses\/","title":{"rendered":"Bitcoin Pushes Above $62,000 After Whales Add 270,000 BTC, Forcing $130M in Short Losses"},"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 rebounded to a daily high of $62,137 to kick off July, widening the gap from its recent local low.<\/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\">Over $606 million in leveraged bets were liquidated, as Coinglass data showed short positions took the brunt.<\/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\">While Scott Melker eyes a bottom due to whale buys, one analyst warns S&amp;P 500 macro trends could trigger panic.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Liquidations Flip the Script on Derivatives<\/h2>\n<p>On Thursday, <span>bitcoin<\/span> logged further marginal gains, briefly <a href=\"https:\/\/news.bitcoin.com\/bitcoin-traders-brace-for-62k-test-after-rebound-from-57735-low\/\">breaching the $62,000 threshold<\/a> and widening the gap from a year-to-date low of $57,735 recorded some 48 hours earlier. Market data showed <span>bitcoin<\/span> largely held above the $60,000 mark since erasing earlier losses, and by Wednesday evening, it offered the first hint that buyers were piling in after testing the $61,000 threshold.<\/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>Although <span>bitcoin<\/span> slipped below $60,000 a few hours later, it quickly recovered to momentarily breach the $61,000 mark again. At around 3:55 a.m. EST, the top <span>cryptocurrency<\/span> launched a rally that peaked at a daily high of $62,137. Despite later retreating to around $61,600 by 1:36 p.m. EST, it remained up 3% over the 24-hour period\u2014marking a bright start to July.<\/p>\n<p>Consequently, <span>bitcoin<\/span>\u2019s market capitalization jumped from over $1.2 trillion to nearly $1.24 trillion, helping lift the aggregate <span>crypto<\/span> economy to $2.2 trillion. This ascent flipped the script on the derivatives market, where liquidated short bets surpassed wiped-out long positions.<\/p>\n<p>According to Coinglass data, approximately $130 million in short <span>bitcoin<\/span> positions were wiped out in a 24-hour window, compared with $50 million in long bets. Overall, the <span>crypto<\/span> economy saw over $606 million in leveraged positions liquidated, with short bets accounting for nearly $400 million of the total.<\/p>\n<p>Although some analysts expect further downside, data showing a whale-accumulation spike of 270,000 Bitcoins at roughly $59,000 challenges that view. <span>Crypto<\/span> analyst Scott Melker <a href=\"https:\/\/x.com\/scottmelker\/status\/2072716275902820737\" target=\"_blank\" rel=\"noopener noreferrer\">noted<\/a> that such heavy buying points to a definitive market bottom.<\/p>\n<p>\u201c270,000 <span>Bitcoin<\/span> accumulated by <span>whales<\/span> at $59,000. The largest single accumulation spike ever recorded on-chain. Bigger than the COVID bottom. Bigger than the FTX bottom,\u201d Melker said.<\/p>\n<p>Melker acknowledged that 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 ETFs<\/a> suffered a <a href=\"https:\/\/news.bitcoin.com\/bitcoin-etfs-hit-9-day-outflow-streak-with-223-million-exit-as-june-ends-in-the-red\/\">dismal June<\/a> with $4.5 billion in net outflows. However, he argued that <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-are-bitcoin-whales\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">whales<\/a> who took profits above $120,000 are now aggressively rebuying\u2014a pattern that historically signals a market floor.<\/p>\n<p>\u201cThis is something we tend to see at the bottom of markets and not at the top,\u201d he added.<\/p>\n<p>Still, other market commentators urge caution, noting that macroeconomic factors and systemic distrust could still weigh heavily on the market. Highlighting this more cautious outlook, <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> analyst Aralez <a href=\"https:\/\/x.com\/0xAralez\/status\/2072723910882164873\" target=\"_blank\" rel=\"noopener noreferrer\">projected<\/a> that a worsening global environment and a downturn in the broader equities market\u2014specifically the S&amp;P 500\u2014could trigger a wave of panic, keeping sentiment firmly negative and potentially creating deeper <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-volatility\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">volatility<\/a> before a true recovery cycle takes root.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/bitcoin-pushes-above-62000-after-whales-add-270000-btc-forcing-130m-in-short-losses\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Bitcoin rebounded to a daily high of $62,137 to kick off July, widening the gap from its recent local low. Over $606 million in leveraged bets were liquidated, as Coinglass data showed short positions took the brunt. While Scott Melker eyes a bottom due to whale [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":74862,"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\/74861"}],"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=74861"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/74861\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/74862"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=74861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=74861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=74861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}