Bitcoin Liquidations Reach $202 Million as Bulls Watch for Breakout

Recent price fluctuations in Bitcoin triggered a significant liquidation event on Binance, totaling over $202 million. This marked the third-largest liquidation event of May following events on May 23rd and May 12th, according to CryptoQuant’s Burakkesmeci data. The liquidations occurred as BTC traded briefly below $111,000 before a rally back towards $104,600. This price action is seen by some analysts as a potentially positive sign for future market stability. They believe these liquidation events have cleared out weak hands and speculative positions, paving the way for more sustainable upward movement.