Bitcoin’s brief slide to $62,800 on Tuesday was quickly reversed, with the price reclaiming the $64,000 threshold that it had breached late Monday. This rebound comes after a sizable $108 million in short liquidations, a clear sign that traders who had bet on a decline were forced to buy back Bitcoin to cover their positions. For the average holder, this means the market is still on a bullish trajectory, having gained nearly 10 % since the start of July.
Today’s price sits at $63,757, only a hair below the $64,000 mark, and the 24‑hour change is essentially flat. Coupled with a fear/greed index of 27, the sentiment is leaning toward caution. In this environment, the $64,000 level can act as a short‑term support: if the price dips below it, we might see a quick bounce back as short covering continues. Conversely, if the price manages to stay above $64,000, it could signal that the July rally is gaining momentum.
Retail investors should keep an eye on the next potential floor around $62,000. A break below that could trigger a more pronounced pullback, while holding above it would reinforce the bullish stance. Watching the short interest and any further liquidation activity will also help gauge whether the market is still in a buying phase or if a reversal is looming.