Bitcoin Holds Above $80K as $511M Crypto Liquidations Hit
Bitcoin remained near $83,000 as crypto markets weakened alongside US stocks. BTC traded between $82,563 and $84,381 over 24 hours, falling 1.14% after an earlier narrower range near $84,000. Bitcoin remains above its 20-day, 50-day and 200-day moving averages, while its RSI14 stood at 60.9. Key resistance is around $87,396 and $88,093. Support is near $80,707 and $76,501.
Crypto liquidations surged to $511 million in 24 hours, up sharply from the previous $187 million figure. Long positions accounted for $408 million, or nearly 80% of total liquidations, affecting about 128,000 traders. The largest single liquidation was an $11.82 million ETH/USDT position on Binance. The heavy long wipeout highlights increased short-term downside risk and leverage-driven volatility.
Ethereum rose 0.11% to $2,676 after previously declining, while Solana fell 2.95% and XRP dropped 1.71%. Ethereum stayed above its major moving averages, but its MACD showed strengthening bearish momentum. Traders are watching whether ETH can reclaim $2,700 and whether Bitcoin can hold $80,700.
US stocks also fell, with the S&P 500, Nasdaq and Dow Jones down 0.77%, 0.92% and 0.67%, respectively. The Crypto Fear and Greed Index eased from 74 to 73 but remained in the greed zone. The near-term outlook is volatile and range-bound. Bitcoin’s positive technical structure provides some support, but weakening sentiment, elevated liquidations and resistance below $88,100 could limit upside until new macroeconomic or market-flow catalysts emerge.
Neutral
The immediate price impact is neutral because Bitcoin retains a constructive technical structure but faces conflicting signals. Holding above the 20-day, 50-day and 200-day moving averages, together with an RSI14 of 60.9, suggests that Bitcoin has not entered an outright bearish trend. However, the sharp increase in liquidations, particularly the $408 million in long positions, shows that leveraged traders are vulnerable to further declines. Bitcoin is also below resistance near $87,396-$88,093, while its key support is around $80,707.
In the short term, forced selling can increase volatility and push Bitcoin towards support, especially while US equities are falling and market sentiment is easing. If BTC holds $80,700, traders may view the liquidation event as a reset that could support a later recovery towards resistance. A break below that level could expose the $76,501 area and reinforce bearish momentum. Ethereum’s stronger bearish MACD and failure to reclaim $2,700 add to the cautious market backdrop, although ETH remains above its major moving averages.
Over the longer term, the outcome will depend on macroeconomic data, Federal Reserve policy signals, Bitcoin ETF flows and the return of spot demand. The elevated greed reading may support risk appetite, but it also indicates that the market could be vulnerable to further profit-taking. Historical liquidation spikes often create short-term dislocation rather than determine a lasting trend, so confirmation from price and trading volume is needed before adopting a strongly bullish or bearish view.