Bitcoin Reclaims $64K After $62.8K Dip, $108M Short Liquidations Fuel Rebound

On Tuesday, Bitcoin reclaimed $64,000 after dipping to $62,800 hours earlier, with $145 million in liquidations—including $108 million in short positions—fueling the quick rebound. The cryptocurrency is up nearly 10% since July 1, maintaining upward momentum despite the intraday volatility.

Bitfinex analysts believe Bitcoin may have bottomed, citing its swift recovery above $60,000 and spot demand returning at marginal lows. However, they caution that sustained recovery will likely depend on renewed exchange-traded fund inflows. Other analysts, including Crypto Youtuber Crypto Rover, argue the bottom has not yet formed.