Bitcoin is under heavy pressure today as a sharp wave of liquidations and rising fear in the market pushed the price down to 95,450 dollars, slipping almost 3 percent in the last 24 hours. The move comes after BTC briefly tested the 99K region but failed to hold momentum, triggering a cascade of long liquidations across major exchanges.
Over 1.06 Billion Dollars Liquidated in 24 Hours
According to the liquidation heatmap, the market saw a massive 1.06 billion dollars in total liquidations in just one day.
Out of this:
- Long positions: 878 million dollars wiped out
- Short positions: 183 million dollars liquidated
This imbalance confirms one thing. The market was heavily long-biased, and the drop forced aggressive unwinding.
Bitcoin alone accounted for 552 million dollars in liquidations, while Ethereum followed with 234 million dollars.
Fear Builds as Traders Step Back
The size of liquidations, especially on Bitcoin, hints at traders being caught off guard around the 100K test.
The sudden long wipeout also suggests many were betting on a breakout, but liquidity pockets below 97K got hit instead.
Market sentiment has weakened further, and traders are now watching key support levels around the 94K zone.
What Comes Next
With funding rates cooling and longs being flushed out, volatility may remain elevated going into the week.
Short-term traders should expect more sharp moves as liquidity remains thin and the market recalibrates after the liquidation shock.
For now, BTC sits in a critical zone. If selling continues, analysts will be looking at the 93K to 94K range as the next support.
