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Bitcoin Faces Potential Crash as $100 Billion in Liquidations Loom

June 16 (Cointime) - Bitcoin, the largest cryptocurrency, experienced a 3% decline on June 14th, dropping below $25,000 and reaching a price level not seen since mid-March. This has led many to believe that the recent bull run for BTC was a fakeout, especially with mounting regulatory pressure from the US Securities and Exchange Commission.

Over $100 billion in liquidations loom, which could potentially result in further downside movements and increased selling pressure for Bitcoin. However, there is also a possibility of institutional investors hunting for short position liquidations, leading to a surge in buying pressure and propelling the price of Bitcoin to the upside.

Bitcoin Bitcoin $93,913.77
-3.09%
Bitcoin Cryptocurrency
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