Bitcoin Falls Below 57K as Institutional Dumping Triggers Market Panic Sun Ge Willing to Take Over

Bitcoin continued to decline yesterday, with trading subdued on the US Independence Day, dropping to as low as $56,771. BTC formed a complete head-and-shoulders pattern and broke below the neckline, triggering a liquidation of long positions. According to Coinglass data, in the past 24 hours, 122,519 people were liquidated, totaling $370 million, with Bitcoin accounting for $126 million.