Bitcoin price reversal, 90,000 people liquidated $200 million
On the evening of July 2, the price of Bitcoin suddenly broke through $108,000, leading to a rise of over 2% in mainstream coins like Ethereum. However, behind the celebration lies a harsh reality: Coinbase data shows that over 90,000 people were liquidated within 21 hours, with $201 million evaporating in an instant.
As an investor who has experienced market fluctuations firsthand, I am well aware of the destructive power of such market conditions. The violent oscillations in Bitcoin's price are nearly impossible for ordinary retail investors to predict. This is influenced by the entry and exit of large institutional funds—the number of wallets holding over a million dollars in Bitcoin has surged in the past two years; it is also driven by macroeconomic factors, with expectations for the U.S. economy and adjustments in monetary policy reshaping the logic of the cryptocurrency market. Standard Chartered Bank predicts that Bitcoin could reach $135,000 in the third quarter and challenge $200,000 by the end of the year, further fueling speculative sentiment in the market.