Bitcoin Surges to $64,653 on July 10, Triggering $96M Short Liquidations

According to Bitunix Analyst, on July 10, Bitcoin surged to $64,653, erasing mid-week losses triggered by Middle East tensions. The cryptocurrency secured a 2% daily gain, pushing its market capitalization above $1.28 trillion, while the broader crypto market cap climbed to $2.28 trillion—a 1.5% increase over 24 hours.

The sudden rally forced $96 million in short liquidations compared to just $13 million in leveraged longs. Across the wider crypto market, a total of $236.50 million in leveraged positions were liquidated, with short positions accounting for nearly $170 million. Bitunix Analyst warns that Bitcoin's macro trend remains critically dependent on defending the $64,000 support level.