Summary
Bitcoin has bounced back to $65,000 after dropping below $60,000, just before its scheduled halving event which will cut miner rewards in half. The price has been volatile, reaching $65,000 before dropping again. Derivatives traders have suffered losses, but long-term investors, including old whales and miners, are seeing significant gains. Miners are also facing competition for resources from the AI industry.
Key Points
1. Bitcoin has bounced back up to $65,000 after plummeting below $60,000, experiencing volatile price fluctuations before its next halving event.
2. The Bitcoin halving is expected to occur late Friday night or early Saturday morning, reducing the reward paid out to miners from 6.25 to 3.125 BTC.
3. Bitcoin derivatives traders have faced significant challenges due to the recent volatility, with $293 million worth of futures positions liquidated since Thursday.