Bitcoin climbs past $62,000 as $410 million of leveraged positions are liquidated

Bitcoin traded near $62,679, hovering above the $63,000 line that analysts say is needed to sustain the rally. Technical charts highlight $66,500 as the next resistance zone and $58,000 as key support. Momentum indicators, including the MACD, have turned positive, suggesting buying interest.

In the same 24‑hour period, the cryptocurrency market saw roughly $410 million in leveraged liquidations, with Bitcoin accounting for the largest share at $189 million. Long positions bore the brunt, losing about $258 million (63% of total liquidations). Ethereum followed with $96 million in liquidations. The surge occurred as the White House continues to study a strategic Bitcoin reserve, while U.S. crypto‑market structure legislation moves toward a Senate vote by Aug. 7. On‑chain data showed roughly equal inflows and outflows of BTC at Coinbase, and miner Riot Platforms moved 500 BTC to a NYDIG custody account. SpaceX’s pending inclusion in the Nasdaq‑100 adds another Bitcoin‑holding company to the index, linking the asset further to traditional equity markets. Bitcoin’s market‑share dominance rose to 58.07% and derivatives trading volume more than doubled, reflecting heightened risk‑off flows.

These developments together signal heightened volatility, growing institutional attention, and a tightening regulatory backdrop for the world’s largest cryptocurrency.