Bitcoin surges to $65,000 after $700 million in early Friday liquidations

Bitcoin sharply rebounded in Asia on Friday, surging back above $65,000 after a rapid sell-off during late U.S. hours briefly pushed the token near $60,033. This volatility followed Thursday's significant 13% slide and was accompanied by the liquidation of approximately $700 million in leveraged crypto positions over four hours, split between long and short bets, suggesting traders were caught by the sudden reversal. The bounce suggests strong support around the $60,000 psychological level, according to some analysts, though overall market sentiment remains fragile amid broader market turbulence. The volatility also affected altcoins like Solana, and the recent drawdown has impacted crypto-linked balance sheets, such as MicroStrategy's reported fourth-quarter net loss driven by bitcoin holdings depreciation.

(Source：CoinDesk)