Bitcoin Traders Hit With $75M in Liquidations After Third Rejection at $65,600

Repeated failures to clear the $65,600 resistance followed by roughly $75M in liquidations indicate crowded positioning and forced deleveraging in Bitcoin. The liquidation print suggests short-term risk appetite is fading and that market depth may be thinner, increasing sensitivity to follow-through selling and volatility. Near-term trading conditions are likely to remain choppy as participants reset leverage and reassess momentum around key technical levels.