Bitcoin Liquidations Soar to $255 Million as Price Rebounds to $63K Before Halving

Bitcoin experienced a sudden drop to $61,000, causing over $255 million in liquidations, but has since recovered to nearly $63,000. The broader crypto market has followed a similar trajectory, with the global market capitalization at $2.4 trillion. Crypto derivatives traders have faced significant losses, with over $700 million in long contracts liquidated over the weekend. Despite the upcoming Bitcoin halving, some experts believe that global liquidity improvements may have a more significant impact on the markets. However, uncertainty remains regarding the timing of liquidity improvements, with concerns raised about the potential impact of the halving on crypto asset prices.