Bitcoin run quick crash go down to $61K, sharp liquidations of $1.1B happen
Bitcoin Flash Crash reach $61K: BTC commot reach intraday low near $61,503 after e break under $72,000 and pass through $70,000 and $65,000. The move na show say Bitcoin don weak pass since end of February and e happen with bigger market reset, wey raise liquidation risk for crypto and push Ethereum near about $1,730.
The flash crash to $61K trigger over $1.1 billion leveraged liquidations inside 24 hours, na long positions carry most of the hit. Forced selling quicken once BTC lost the mid-$60,000 area, as margin positions close for major derivatives venues. The article tie the pressure to mix of ETF outflows, weaker spot demand, risk-capital rotation, corporate treasury stress, and leverage wey dey above support.
On-chain flow still raise supply worries: analyst Ali Martinez talk say over 54,000 BTC move to trading platforms over the past week (about $3.78B extra sellable supply). Even though exchange inflows no sure say dem go sell immediately, dem fit make order books worse during downturn—especially when leveraged longs don dey wiped.
Technically, MVRV Bands point to next support window between $54,000 and $50,000 if BTC no fit reclaim the mid-$60,000 zone; recovery above $65,000 go ease near-term pressure. Separately, Mt. Gox wallet activity come back to attention, including 116.3 BTC wey transfer go Bitstamp, add short-term "repayment" anxiety as traders dey watch inflows and liquidation data.
Bearish
E get reason to dey bearish because di event combine price breakdown, leverage wipeout, and supply-side signals. Di $61K flash crash plus di $1.1B liquidation wave wey follow usually deepen short-term downside by force more sell pressure and reduce risk appetite. Similar liquidation-led flushes for past BTC selloffs often give small bounce, but whether e continue depend on if dem don clear leverage for real and if exchange inflows still dey pressure order books.
For short term, traders fit treat di $60K–$65K zone as battleground: if dem no fit reclaim mid-$60K e fit extend di liquidation cascade toward di $54K–$50K MVRV support band. Di Mt. Gox 116.3 BTC to Bitstamp headline fit also act like sentiment overhang, make demand dey cautious.
For medium-to-long term, if ETF outflows continue and exchange inflows remain high, market fit struggle to sustain recovery rallies—turning this from one-off flush to broader de-risking cycle. But if dem quickly reclaim $65K and exchange inflows cool down e go reduce liquidation risk and fit shift tone toward consolidation instead of new selloffs.