Bitcoin's upward momentum came to a halt on April 19 as a series of long liquidations triggered a sudden plunge, causing BTC/USD to drop to $29,015 on Bitstamp, the lowest level since April 10. The decline followed a strong rebound above $30,000 the day before. As volatility returned, traders faced challenging conditions, with liquidations stacking up rapidly. Despite this, some traders, such as bullish trader Crypto Kaleo, remained optimistic, seeing the retracement as an opportunity to buy dips. At the time of writing, total crypto long liquidations for April 19 stood at around $175 million on platforms monitored by data resource Coinglass.

(By WILLIAM SUBERG)