Gate News, on March 19th, Coinglass data showed that the entire network liquidated $61.7106 million in the past hour. Among them, long positions liquidated $59.7621 million, and short positions liquidated $1.9484 million. By cryptocurrency, BTC liquidations were $43.39 million, and ETH liquidations were $15.85 million.
On March 19, Bitcoin pulled back to key support levels due to unexpected rises in US inflation data and hawkish signals from Federal Reserve Chair Powell, with losses exceeding 4.6%, currently trading around $70,800. Market expectations for rate cuts have cooled, with crypto market cap declining to approximately $2.51 trillion and sentiment cautious. If it breaks below $70,000, it could further test $65,000. Market movements remain highly dependent on macroeconomic factors.
Bitcoin recently broke through $74,000 briefly but pulled back to around $70,800 due to selling pressure from short-term holders. Although prices show an upward trend, they face structural resistance, and the current movement looks more like a bear market rally than a bull market launch. If unable to effectively resist selling pressure, it may break below the $70,000 support level. The market is still waiting for clearer signals.
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