Bitcoin (BTC) Short Covering Likely As US CPI Numbers Could Surprise, Predicts Analyst

On Tuesday, May 14, the world’s largest cryptocurrency, Bitcoin (BTC), faced downward pressure, experiencing a 1% decline and falling below $62,000. This drop was attributed to concerns surrounding US macroeconomic data. According to CoinGlass data, over the past 24 hours, more than $100 million worth of Bitcoin long positions were liquidated.