Bitcoin drops below $76,000 as long liquidations hit traders

Bitcoin fell below $76,000 on Friday evening as fresh selling pressure pushed the market deeper into a defensive phase.

The cryptocurrency dropped to $75,120 per coin, marking a 2.8% decline for the day.

The move extended Bitcoin’s weekly losses to about 5%, adding pressure after a difficult seven-day trading period.

Bitcoin also lost support near $77,000, making the $80,000 range appear further out of reach for buyers.

The latest decline followed an extended retracement from Bitcoin’s October 2025 record high above $126,000.

Bitcoin’s market capitalisation stood at about $1.5 trillion, while Friday trading volume remained relatively light at $31.49 billion.

Analysts said the lower trading volume added to market instability as sellers continued to dominate the session.

Market pressure also increased as geopolitical tensions in the Middle East weighed on risk appetite.

Warnings directed at Iran by US President Donald Trump added to uncertainty across global markets.

Broader macroeconomic concerns also remained in focus as traders assessed shifting Federal Reserve expectations.

Some market participants believe the central bank’s new leadership phase could lean more hawkish.

Spot Bitcoin exchange-traded funds also added pressure after recording another round of outflows during the week.

Sosovalue.com data showed spot Bitcoin ETFs logged about $36.29 million in exits during Friday’s session.

Futures markets showed deeper stress as persistent negative funding rates and repeated failed breakouts above $76,000 intensified the sell-off.

Coinglass.com data showed Bitcoin long positions accounted for $209 million in liquidations over the past 24 hours.

Short positions absorbed only $4.7 million in losses, showing that leveraged bullish traders suffered most from the decline.

Across the wider crypto market, total liquidations reached $577.9 million during the same period.

Technical indicators continued to show bearish pressure, with 13 moving average readings pointing to downside conditions.

Only one moving average reading gave a supportive signal, highlighting the weak technical backdrop.

The momentum oscillator offered one of the few constructive signals at -4,072.

However, the MACD reading of -262 showed that bearish momentum still controlled the intraday trend.

The combination of weak technicals, ETF outflows, liquidations and macro uncertainty left Bitcoin’s near-term outlook cautious.

Analysts said bulls need to reclaim key resistance levels before market sentiment can improve.

Until that happens, traders may continue reducing exposure as Bitcoin remains under pressure.

Bitcoin’s decline also showed how the asset can act as an early signal for global liquidity stress before traditional finance markets reopen.

The move stood out because Bitcoin weakened on Friday evening while Wall Street ended the session at fresh record highs.

At the time of reporting, Bitcoin price was $75,566.70.