Bitcoin Falls to $62.2K on July 13, Tests $65K Resistance Amid $52M Liquidations in 24 Hours

According to AMBCrypto, Bitcoin fell to $62,200 on July 13 and later bounced above the $65,000-level the following day, gaining 4.45%. However, in the past 48 hours, BTC has declined 1.37% from that level. The liquidations caused by the $65,000 rejection were modest, with only $52 million in BTC trader liquidations recorded in the past 24 hours, compared to nearly $980 million in liquidations on June 23, when BTC fell from $64,200 to $62,000.

According to Bitfinex analysts cited by AMBCrypto, fragile market conditions could stall recovery, as there is no Bitcoin-specific demand, ETF flows are negative, and the Coinbase Premium Index is also negative. Technical analysis shows the $65,260-level represents a key 78.6% Fibonacci retracement resistance. Bitcoin is expected to continue its downtrend toward $55,560 and $51,934 in coming weeks, unless the 4-hour chart closes above $67,292.