Despite the largest wave of Bitcoin liquidations seen in months, the recent sell-off exerted only limited pressure on BTC’s price. Data shows that nearly $600 million in positions were liquidated in a single day, yet Bitcoin’s price dipped just 2.2 percent. This contrasts sharply with the sharp market downturn in February, suggesting the cryptocurrency is showing newfound resilience under current market conditions.
Big liquidations, limited price reaction
A review of Bitcoin’s daily trading chart reveals that BTC was trading around $76,651 on Bitstamp, experiencing a session loss of just 0.98 percent. Following a rapid decline from its 2025 highs, the price made several recovery attempts. Analysts note that, even though this round of liquidations exceeded those during February’s steep correction, the resulting price drop was milder.
The past three months saw the biggest wave of liquidations, yet the price fell by only 2.2 percent. This stands in stark contrast to February’s crash and highlights a significant sign of market resilience.
According to market data, over $600 million was liquidated across Bitcoin positions, but the price managed only a minor pullback. This demonstrates the market’s ability to absorb heavy sell pressure and indicates that Bitcoin is finding short-term support, with volatility intensifying when it approaches key levels.
Critical levels and market positioning
Research firm MNFund reported scaling back risk in the previous week and exercising caution as market positions became stretched. After the recent liquidations, they shared plans to gradually re-enter the market. This highlights that traders are closely watching whether BTC can defend its critical support zone despite the sell-off.
Currently, Bitcoin is trading close to the 0.786 Fibonacci retracement at $77,331. Analysts stress the importance of the $77,000 to $78,000 zone in the short term. A close above this range could trigger further strength toward the $85,902 Fibonacci retracement, signaling heightened bullish momentum.
Key support levels are now set at $70,000 to $72,000, with a secondary retracement area around $66,413. If these support zones are breached, further downward pressure could follow.
Technical signals reflect market indecision
A review of daily charts and technical indicators reveals a lack of clear direction in the market. The MACD indicator is producing mixed signals and, according to current readings, has not yet shifted decisively into positive momentum. On the chart, the MACD line stands at 606 and the signal line at 1,286. The histogram at minus 680 points to insufficient buying pressure.
The RSI indicator is currently at 44.06, slightly below the neutral range, while its moving average is at 58.85. With RSI below its midpoint, analysts interpret upward momentum as weak. Bitcoin is not in oversold territory, so if primary support zones are lost, continued downside is possible.
From a technical perspective, Bitcoin is testing its stability after the latest pullback. Holding above the $77,331 level could support continued recovery. However, should this level give way, BTC could search for a new balance in the $70,000 and $66,413 zones. A close between $85,902 and $91,922 would be a crucial threshold for a renewed upward momentum.
