Heavy Liquidations Signal Hidden Stress In Bitcoin Market

The apparent calm of bitcoin masks growing nervousness. Held below the $70,000 threshold, BTC moves within a technical compression zone while more than $200 million has been liquidated in just 24 hours. Behind this deceptive stability, signals accumulate : lack of convincing rebound, descending highs, and persistent institutional investor outflows. The crypto market holds its breath, suspended at technical levels likely to trigger a more violent move.

Bitcoin in a Narrow Price Range

Bitcoin is currently in a technical compression phase marked by the absence of a significant rebound and a high level of liquidations.

Market data and analyst statements reveal several factual elements :

• A daily low observed at $65,620 ;

• BTC has traded within a narrow range for two weeks, with support around $66,000 and resistance near $71,000 ;

• Over $210 million liquidated in 24 hours ;

• Michaël van de Poppe states : “this gives me the impression that we will test lower market levels to see if bitcoin can find support.” He adds : “no significant rebound, and constantly lower highs.”

These remarks highlight a technical structure characterized by successive descending highs and a lack of marked bullish reaction despite improving US jobless claims before Wall Street’s open.

The observed momentum contrasts with the apparent price stability. While BTC remains locked below $70,000, liquidation volume stays high, revealing latent tension in the derivatives market. This situation suggests that the current range is not synonymous with balance, but rather a market under pressure where every move can trigger forced exits.

A Concentration of Liquidity Above the Market

Beyond the immediate technical structure, attention focuses on the distribution of potential liquidations. The co-founder of Wealth Capital highlights a notable asymmetry: “below our current levels, between $64,000 and $66,000, there remains a significant amount of liquidity.” However, he clarifies that “the zone between $68,000 and $71,000 concentrates about three times more liquidations ready to be triggered, making it a more likely level to be reached in the coming days. Bulls must react quickly.”

In other words, the zone between $68,000 and $71,000 concentrates about three times more potential liquidations than the area below the current price. Meanwhile, Daan Crypto Trades tempers the immediate significance of liquidity near $66,000, calling it “nothing significant,” while noting that this zone has served as support over the past two weeks.

At the same time, the institutional context remains marked by capital outflows. The Kobeissi Letter reports $173 million in crypto fund outflows last week, the fourth negative week in a row. The total reaches –$3.74 billion over four weeks, with –$133 million for bitcoin and –$85 million for ether in the last weekly period. According to this analysis, sentiment is reaching “extreme pessimism levels.”

The market remains suspended at decisive technical thresholds. As long as the bitcoin price stays below $70,000, pressure persists and nervousness dominates. High liquidations and institutional withdrawals reflect a fragile balance. The current sequence may precede a more marked movement, bearish or bullish.