Bitcoin held firmly above $64,000 despite intraday swings between $63,900 and $64,706. The modest price gains triggered heavy losses for short sellers, driving $148 million in short liquidations out of $216 million across the total crypto market.
Key Takeaways
Bitcoin anchored above $64,000 on Wednesday, capping a 1.1% gain despite volatile intra-day trading.Coinglass data showed market liquidations reached $216 million, with short bets taking a $148 million hit.Polymarket lowered the CLARITY Act’s 2026 passage odds to 15% as Senate delays push talks to September.Market data show that although it dipped below $64,000 several times during the session, it quickly reclaimed the mark, signaling strong buying pressure. Still, a familiar ceiling emerged: Each rally stalled once bitcoin breached $64,400.
That pattern held until 8:30 a.m. EST, when the price fell from $64,466 to a daily low of $63,900 in just over an hour. A sharp rebound erased the drop and pushed bitcoin to a peak of $64,706. As of 12:53 p.m. EST, bitcoin traded just under $64,600—a 1.1% daily gain that nudged its market capitalization close to $1.3 trillion.
For the second straight day, even modest gains proved brutal for short sellers. Coinglass data show that of the nearly $52 million in leveraged bitcoin positions, short liquidations accounted for $45 million. Across the broader crypto market, liquidations hit roughly $216 million, with short positions making up $148 million of the total.
Prediction markets are far less hopeful. Polymarket users now give the CLARITY Act just a 15% chance of becoming law this year, down 12 percentage points from 27% on Monday.
