Bitcoin $75K Rollercoaster Triggers $137M Liquidations; Analysts Eye $85K

Bitcoin is seeing heavy volatility as traders repeatedly test the $75,000 resistance level. Over the past 24 hours, BTC sold off after multiple pushes above $75K, then cycled again—falling to about $74,300 before rebuying back near $75,000. By 1:30 p.m. EST, Bitcoin is around $74,200 and slightly down versus the previous day. The squeeze has been costly. Coinglass data shows 8,061 traders liquidated, totaling roughly $137 million as 24-hour volatility exceeded 2.94%. Liquidations were fairly balanced: about $70 million in overleveraged long positions versus $67 million in shorts, with the biggest single liquidation around $9.7 million. Macro/geopolitics are cited as key catalysts, including reports around potential U.S.-Iran talks, softer U.S. jobless-claims signals, and continued ETF inflows. Still, exchange-related flows and repeated profit-taking helped cap upside near $75K. On outlook, MEXC Research analyst Shawn Young says Bitcoin could reclaim $85,000 by late April, arguing the market may be “pricing in” geopolitical uncertainty. He adds that if no major disruption occurs, Bitcoin may even form new support at $85K. Traders should treat this as a range-and-liquidation event: high leverage got punished near $75K, while the longer-term thesis remains constructive if volatility cools and bids hold above recent support levels.