Bitcoin Holds Range as Liquidations Ease to $139M

| blocktempo.com
Bitcoin initially held near $83,000 during a risk-off session, with $511 million in crypto liquidations dominated by long positions. In the latest update, Bitcoin recovered to about $85,540 and its 24-hour loss narrowed to 0.42%, while total crypto liquidations fell sharply to $139 million. Ethereum slipped 0.79% to $2,696, while Solana and XRP also declined. Bitcoin price remains above its 20-, 50- and 200-day moving averages, with an RSI of 63.4 indicating firm but not overbought momentum. Key Bitcoin resistance is at $87,396 and $88,524, while support is near $83,858 and $79,925. Ethereum support is around $2,678, with resistance near $2,806. However, bearish MACD signals suggest downside momentum is building for both assets. The Crypto Fear & Greed Index has cooled from 74 to 71 but remains in the greed zone. Bitcoin price action and lower liquidation levels point to a cautious, range-bound market rather than a confirmed breakout. Traders are likely to watch whether Bitcoin can hold $83,858 and challenge the $87,396-$88,524 resistance zone, while Ethereum needs to reclaim $2,700 and defend $2,678.
Neutral
The market impact is neutral because the latest data shows reduced liquidation pressure and Bitcoin remains above its major moving averages, supporting short-term stability. However, the decline in Ethereum, Solana and XRP, the cooling Fear & Greed Index, and bearish MACD formations indicate that upside momentum is weakening. In the short term, Bitcoin may continue trading between support near $83,858 and resistance around $87,396-$88,524. A break above resistance could improve momentum, while a move below support may trigger renewed long liquidations and push prices towards $79,925. Ethereum faces a similar test between $2,678 support and $2,806 resistance. Over the longer term, the market structure remains constructive while prices hold above the 20-, 50- and 200-day moving averages. Nevertheless, the earlier $511 million liquidation event and the latest decline to $139 million show that leveraged positioning can still amplify volatility. Until Bitcoin confirms a breakout or breakdown, traders are likely to favour range-trading strategies and tighter risk management.