Crypto
Home›Crypto›Bitcoin›Bitcoin rebounds above $65,000 despite multiple negati…
Bitcoin rebounds above $65,000 despite multiple negative catalysts
The rise followed about $191.6 million in liquidations across more than 80,000 traders, while weekly net realized profit and loss remains negative at roughly $368 million.
Bitcoin climbed back above $65,000, reaching as high as $65,212, extending a stretch of relative resilience as multiple developments that typically weigh on prices failed to trigger sustained selling. CryptoSlate data shows the move gained about 2% over the past 24 hours, its strongest level since late July.
CoinGlass data cited by CryptoSlate showed $191.6 million in crypto liquidations across more than 80,000 traders, including a $1.66 million BTC position on Hyperliquid. The rebound came as investors digested a major hardware wallet security breach, another delay to the CLARITY Act legislation, and months of stagnant trading that left some holders selling at losses.
According to CryptoSlate, market commentary highlighted that Bitcoin’s muted reaction has pushed sensitivity to bad news close to historical lows, suggesting that readily available supply may have already been absorbed. Even so, CryptoQuant data shows Bitcoin’s weekly average net realized profit and loss remains negative at about $368 million, far below the roughly $2.0 billion and $1.2 billion net realized losses seen during February and June declines.
CryptoSlate also pointed to the July 30 hardware wallet incident, which forced potentially affected owners to move funds into new addresses. It said Glassnode estimated about 119,000 BTC held for at least a year moved during the three days after the incident emerged, with much of the activity appearing aimed at securing assets rather than preparing to sell.
Latest closeBitcoin $64,906.59 ▲1.0%