Bitcoin Slips to $78,700 as Crypto Liquidations Reach $252 Million

Published: 2026-09-09 02:15:00 |

Bitcoin fell 0.64% to about $78,700 after trading between $77,600 and $79,500, while Ethereum was broadly stable at $2,497. Bitcoin remained above its 20-, 50- and 200-day moving averages, but expanding bearish MACD momentum pointed to weaker short-term conditions. Key Bitcoin support levels are around $78,438 and $75,142, with resistance near $81,735 and $82,300. Ethereum support is located near $2,460, while resistance stands around $2,553-$2,567. Crypto liquidations reached $252 million over 24 hours, including $163 million in long positions. About 85,596 traders were liquidated, with the largest single liquidation worth $2.96 million on a Binance BTCUSDT contract. Solana slipped 0.2%, while XRP gained 1.44% to $1.4205. Risk appetite weakened after US equities fell following the Labor Day holiday and renewed Middle East tensions pushed oil prices towards $100 a barrel. The crypto Fear and Greed Index declined to 66 from 69, remaining in the greed zone but signalling cooling sentiment. Traders are watching US CPI data, oil prices, geopolitical developments and Federal Reserve rate expectations. These factors could drive further volatility in Bitcoin and the broader crypto market.

Bearish

The immediate market signal is bearish. Bitcoin declined while total crypto liquidations reached $252 million, with roughly 65% involving long positions. This indicates that leveraged traders were caught on the wrong side of the move and that forced selling may continue if Bitcoin loses support near $78,438 or $75,142. The expanding bearish MACD on both Bitcoin and Ethereum also points to weakening short-term momentum, despite both assets remaining above their major moving averages. Macro conditions are adding pressure. US equities fell after the holiday, Middle East tensions lifted oil prices, and higher energy costs could revive inflation concerns. Historically, rising oil prices, weaker equity markets and uncertainty ahead of US CPI releases have often reduced demand for high-risk assets, including cryptocurrencies. A hotter-than-expected CPI report could strengthen expectations for higher-for-longer interest rates and weigh on Bitcoin. A softer CPI reading or easing geopolitical tensions could instead support a relief rally. The Fear and Greed Index remains in the greed zone at 66, so sentiment has not turned fully negative. XRP also outperformed several major tokens, showing that market weakness is uneven. In the short term, traders should monitor liquidation clusters, open interest, BTC support levels and CPI-related volatility. Over the longer term, Bitcoin holding above its 50- and 200-day averages would preserve the broader recovery structure, but a decisive break below support could trigger deeper deleveraging. Overall, the combination of long liquidations, weakening momentum and macro risk makes the near-term outlook bearish, although the trend could quickly change if key support holds.