Bitcoin Stalls Near $63,400 After Early Rally Fades

Bitcoin dipped slightly by 0.7 percent to trade near $63,400 on Tuesday. The drop came after an early morning rally pushed the price to $64,400, but buyers could not sustain the momentum.

The sudden price swings caused $39 million in total liquidations over a 24 hour period. Most of these wiped out bullish long positions as the market faced unexpected selling pressure.

Traders are now watching key support levels to see if Bitcoin can regain its footing or if more downside is coming soon. Market participants should keep an eye on upcoming volume trends.