The sudden move wiped out billions in leveraged positions, sending shockwaves across the crypto market.
Data shows that in just one hour, more than $3.32 billion worth of positions were liquidated — with longs accounting for $3.24 billion, compared to only $79 million in shorts. Over a 24‑hour span, total liquidations exceeded $5 billion, marking one of the largest wipeouts in recent weeks. The scale of these losses underscores the extreme volatility that continues to define the market even after months of institutional inflows and record‑breaking highs.
Following the crash, Bitcoin’s price briefly touched $107,485 before rapidly reclaiming $114 K, according to Binance data. The RSI slipped toward the mid‑40s, signaling a cooldown from overbought levels, while the MACD turned negative for the first time in weeks — often interpreted as an early warning of fading momentum.
The market capitalization of Bitcoin has now fallen to roughly $2.1 trillion, with daily trading volume surging past $99 billion as panic‑driven orders flooded exchanges. Despite the rebound, Bitcoin remains down more than 12 % in 24 hours and 13 % over the past week, showing the severity of the correction.
Analysts suggest that the rapid rebound was likely fueled by automated buying and strong spot demand near the $105K‑$107K range, an area seen as short‑term technical support. However, momentum remains fragile, and traders are closely watching whether Bitcoin can maintain levels above $110,000 heading into the weekend.
While the sharp bounce may hint at stabilization, technical signals like the weakening MACD and cooling RSI indicate the potential for further downside if selling pressure resumes. Market sentiment remains tense, and another drop below the $100K psychological threshold could trigger a new wave of long liquidations.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.