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Bitcoin Fell Below $76,000 as $209 Million in Long Liquidations Hit Traders
On Friday evening, Bitcoin dropped to $75,120 per coin, posting a daily decline of 2.8%. This daily fall delivered another blow to an already difficult week for the market, bringing weekly losses to approximately 5%.
Key Takeaways:
- On Friday, Bitcoin fell by 2.8%, while CoinGlass recorded $577.9 million in cryptocurrency liquidations.
- Data from SoSoValue showed that $36.29 million exited spot Bitcoin ETFs during Friday trading.
- Warnings from Donald Trump and concerns surrounding the Federal Reserve System kept BTC below the $76,000 resistance zone.
Bitcoin Continues Losing Ground
The $80,000 range once again appears increasingly distant, as Bitcoin is now trading below the $76,000 zone after losing support at $77,000. Bitcoin’s daily structure continues to reflect a market searching for confidence following a prolonged pullback from its October 2025 all-time high above $126,000.
The market capitalisation of Bitcoin currently stands at $1.5 trillion, while Friday trading volume remained relatively low at $31.49 billion, adding to market instability.
Trading activity throughout the session largely reflected strong selling pressure. Negative factors continue intensifying due to escalating geopolitical tensions in the Middle East and warnings directed at Iran by US President Donald Trump.
At the same time, broader macroeconomic conditions and shifting expectations regarding the Federal Reserve System remain in focus, particularly as the central bank enters a new leadership phase that many market participants view as hawkish. Additional pressure comes from the fact that exchange-traded funds (ETFs) recorded a series of outflows throughout the week.
According to SoSoValue, approximately $36.29 million was withdrawn from spot Bitcoin ETFs during Friday’s trading session. Persistently negative funding rates, repeated failed attempts to break above the $76,000 range, and continued deleveraging in futures markets further intensified the decline.
Over the past 24 hours, Bitcoin long liquidations totalled $209 million, while short positions suffered losses of only $4.7 million. According to CoinGlass, total liquidations across the broader crypto economy reached $577.9 million.
Cryptocurrency liquidation data according to CoinGlass.
Moving averages remain the clearest source of bearish pressure in the technical picture, with 13 indicators signalling downward conditions compared to only one indicator suggesting support. The momentum oscillator delivered one of the few constructive signals among oscillators, posting a reading of -4,072, while the MACD indicator registered -262, confirming that bearish momentum continues dominating the broader intraday trend.
The combination of weakening technical structure, continued ETF outflows, elevated liquidation levels, and growing macroeconomic uncertainty paints an increasingly defensive outlook for Bitcoin in the near term. Unless bulls reclaim key resistance levels and reverse the pattern of failed breakouts, bearish sentiment appears likely to remain dominant as traders continue reducing exposure amid intensifying market pressure.
As is often the case, Bitcoin once again acts as a barometer of global liquidity and geopolitical tension before traditional finance (TradFi) markets fully react when trading resumes on Monday morning. This contrast appears even sharper given that Bitcoin’s Friday evening decline occurred while S&P 500 and other Wall Street indices closed the session at fresh record highs.
See also: "XRP Outflows From Binance Rose to 53% Over the Past Week"
