Bitcoin punched through the $75,000 floor, and the derivatives market responded exactly how you’d expect: with chaos. Approximately $923 million in crypto positions were liquidated in a single day, with long traders, the ones betting on higher prices, absorbing the vast majority of the damage.
Of that total, around $834 million came from liquidated longs. The market was overwhelmingly bullish going into this move, and that crowded positioning made the unwind brutal.
A support zone under siege
The $75,000 to $77,000 range has been flagged by analysts as a critical technical support area for Bitcoin. Multiple retests of sub-$80,000 levels throughout 2026 have already weakened the structural integrity of this zone.
Earlier waves in 2026, when Bitcoin dipped into the $67,000 to $76,000 range, produced even larger wipeouts between $1.7 billion and $2 billion in forced closures. So while nearly $1 billion sounds dramatic, the market has actually seen worse in recent months.
