Bitcoin Approaches $59,500–$62,600 Dense Liquidation Zone as Glassnode Warns of Long Position Risks

Odaily News: Blockchain data analytics firm Glassnode has identified Bitcoin's largest model liquidation concentration zone at $59,500 to $62,600, an area visible on the six-month heatmap that has not been touched since the August low. Glassnode warns that as Bitcoin's price approaches this zone, long positions left over from the August breakout may face further liquidation following sustained selling pressure.

As of November 14, Bitcoin was trading at $63,602, down 6.90% in 24 hours, 14.81% over the week, and 21.45% over the month. On November 13, U.S. spot Bitcoin ETFs recorded net outflows of $185.4 million, with BlackRock seeing $143.5 million in outflows and Fidelity $41.9 million.

From November 9 to 13, U.S. spot Bitcoin ETFs recorded cumulative net outflows of approximately $1.07 billion, marking the seventh consecutive trading day of net outflows. CME FedWatch data shows that as of November 14, the market expects an 88.5% probability of a 25-basis-point rate hike by the Federal Reserve and an 11.5% probability of a 50-basis-point hike; the Fed's policy meeting is scheduled for December 8–9. (Bitcoin.com News)