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Bitcoin struggles to break $70,000 resistance as long-term holder selling slows and a large 40x short position risks a potential squeeze toward $72,000 if bulls push higher.
Bitcoin suffered a historic sell-off with $20 billion liquidations, facing continued selling pressure and weak price action ahead of CME futures reopening Sunday evening US time.
Bitcoin endured a major shakeout this week as over 1.8 billion dollars in leveraged positions were liquidated in one day, triggering sharp volatility despite a 1.36% intraday gain.