After a quiet weekend where BTC remained around $63,000, BTC again tried to make a jump during the trading session on Monday but stalled below $65,000.
The subsequent decline brought more volatility to the market, which has resulted in more than 60,000 traders being liquidated on a daily basis.
Bitcoin price movements in recent days have been quite positive, especially after the US Federal Reserve cut the country's key interest rate by 0.5% on Thursday. BTC responded with immediate price volatility, but buyers managed to dominate and push the asset towards a rally, with its peak soaring above $64,000 on Friday morning.
The cryptocurrency failed to continue its gains and lost momentum over the weekend. BTC trades in a small range around $63,000 most of the time.
More volatility occurs on Sunday night and Monday. First, BTC fell to $62,400 after rising to $64,000, lost another $1,500, and started an impressive rally a few hours ago.
This resulted in a price surge to a four-week high of $64,800 (on Bitstamp). However, sellers were quick to block BTC's rise. For now, the asset is trading about $1,000 lower.
This significant volatility has taken its toll on traders who overleveraged their positions, with nearly 62,000 such market participants experiencing losses on a daily scale. The total value of liquidated positions reached $165 million, according to CoinGlass.
The largest single position liquidated actually involved ETH and was worth $2.73 million.
