Overnight saw Bitcoin top $10,000...

Source: Bloombergs CoinTelegraph reports, when Bitcoin initially broke over $10,000, it triggered over-leveraged short contracts to become liquidated. When BTC reached $10,200, it caused a cascade of liquidations to occur, totaling $74 million.

Bitcoin has seen many phases when more than $50 million worth of short or long contracts gets liquidated. But for this to occur within a span of a few hours is less typical.

The mass liquidations of long contracts at $10,000 also suggest that the $10,000 to $10,200 remains as a heavy resistance area. As soon as BTC hit $10,200, the price dropped below $10,000, marking a short-lived rally.

Will it hold this time?