Bitcoin markets recovered slightly from session lows, but risk assets remained under pressure as crypto saw a sharp wave of liquidations exceeding $360 million. Altcoins continued to underperform, with selling pressure remaining heavier across the broader market. U.S. equities also trimmed some losses into the close.
Crypto-related stocks stayed weak throughout the session. Shares of Coinbase, Circle, and Galaxy each fell close to 8%, while Bullish and Bitmine Immersion led declines with losses nearing 9.5%.
In derivatives markets, the move appeared to be driven by a broader deleveraging event. Data showed that more than $360 million in long crypto positions were liquidated over the past day, the biggest flush of bullish leverage since late March. The correction also cooled off the aggressive positioning that had built up during Bitcoin’s recent push toward $82,000, following momentum around the Clarity Act in the Senate Banking Committee.
Also Read: CLARITY Act Advances in U.S. Senate: A Major Step for Crypto Regulation
At the time of writing, BTC was trading at $76,847.
BTC witnessed a decent rally from $65,000 to $82,850, surging by almost 27%. In the weekly time frame, the asset was trading in an uptrend, forming a ‘Higher High Higher Low’ pattern. However, the bulls failed to maintain their grip on the asset, as last week saw some profit booking at higher levels, causing the price to correct to $77,000. BTC has a strong support zone between $75,000 and $73,000. If it bounces and sustains above these support levels, then we can expect the bulls to resume the upward move.
Also Read: Bitcoin Price Prediction
Key Levels
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2. |
| $65,000 | $75,000 | BTC | $85,000 | $100,000 |
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