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Bitcoin Falls Below $61K on June 9 as Middle East Tensions Trigger $467.5M Liquidations; Glassnode Flags 8M BTC Underwater

GateNews
Derivatives DataPrice Volatility
BTC-2.92%

According to Glassnode data, Bitcoin fell below $61,000 on Tuesday (June 9) as escalating Middle East tensions sparked a 2.9% daily price drop. Bitstamp data showed the top cryptocurrency dipping to an intraday low of $60,718 before attempting to reclaim higher levels.

The market retreat triggered $467.5 million in total crypto liquidations, with $364.5 million in long bets and $104 million in Bitcoin long liquidations. On-chain analytics firm Glassnode reported that 8 million Bitcoin are now "underwater," meaning these coins were last moved or purchased at prices higher than current spot values.

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