Bitcoin Spikes Near $64,000 — Short Sellers Lose Over $450 Million
Bitcoin surged to nearly $64,000** on July 6, reaching **$63,900 on CoinGecko and extending a weekend rally that liquidated **over $450 million in short positions** across the derivatives market. BTC climbed from $60,024 to $63,650 (up 6.04%) over the past three days. The move was fueled by weak U.S. employment data reducing the likelihood of interest rate hikes. However, the market remains affected by persistent spot Bitcoin ETF outflows and liquidation risk asymmetry.
Risk reminder: Short squeezes produce fast moves but not durable demand. Resistance remains near $64,000–$64,500.
