Bitcoin Breaks $64K as $96M in Short Bets Liquidated
Key Facts
In a move reflecting accelerating recovery momentum in the crypto market, Bitcoin broke through the $64,000 threshold to reach an intraday peak of $64,653. According to reports, this price surge triggered the liquidation of $96 million in bearish bets, effectively erasing the geopolitical losses recorded earlier in the week and strengthening the upward trend.
This breakout coincides with the total cryptocurrency market capitalization rising to $2.28 trillion, signaling fresh liquidity entering the sector. Per market data, surpassing $64,000 places the asset within striking distance of the critical $64,700 technical resistance level previously identified by analysts (Blockonomi), amid cautious optimism regarding a long-term bullish reversal.
Looking ahead, BTC price remained elevated at the close of July 10, 2026, as traders monitor whether the $64,000 level can be flipped into a solid support zone. Markets are now awaiting further central bank commentary or economic calendar catalysts that could either sustain this momentum or trigger profit-taking at current levels.
Latest Updates · 4
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Update: Bitcoin has extended its gains to reclaim the $64,000 level, despite reports that MicroStrategy offloaded approximately $216 million worth of the asset in an underwater sale. Traders are now monitoring the market's ability to absorb this institutional selling pressure while maintaining bullish momentum above the newly established support.
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Update: Bitcoin continued its ascent to reach $64,406, marking a 24-hour gain of 2.65%. This additional momentum followed specific hints from Donald Trump regarding potential negotiations with Iran, further bolstering expectations for a de-escalation in geopolitical tensions.
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Update: The recovery has broadened across the digital asset space, with the total crypto market capitalization reaching $2.2 trillion. According to reports, both Bitcoin and Ethereum have maintained a steady rebound since July 8, positioning major assets to test intermediate technical resistance levels following their recovery from late June lows.
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Update: Bitcoin has extended its rally to reach $64.3K, marking a three-week high and shifting technical focus toward the $65,000 resistance zone. Notably, BTC price action has recently diverged from traditional correlations with oil prices and US dollar strength, signaling a shift in market dynamics for the digital asset.