Long positions made up more than 90% of all liquidations, a sign that traders had bet on a price recovery that never came — resulting in forced selling rather than new bearish bets.
Bitcoin was trading around $73,125 at the time of writing, down 1.70% in 24 hours and 5% over the past week. Its intraday range ran from $72,485 to a high of $75,280.
A Wider Market SlideBitcoin’s total market cap stands at roughly $1.47 trillion — significant by most standards, but no longer enough to place it in the top 10 alongside the world’s biggest companies and commodities.
Bearish Signals Across The BoardTechnical indicators paint a gloomy picture. On the 1-day chart, moving averages from 10 to 200 periods all point to negative momentum, according to TradingView data. The oscillator group is mixed — the RSI sits at 3 6, which is considered neutral, but two other oscillators are flashing sell signals.
Whether Bitcoin can climb back into the top 10 will depend heavily on price action in the weeks ahead. Reports indicate a sustained move above $75,000 could help restore market confidence, while a break below key support levels may extend the current slide.
Featured image from Bitpanda Blog, chart from TradingView
