Key Points
- Bitcoin drops near $77,000 as $677M in long positions are liquidated.
- ETF outflows and macro pressures weigh on short-term recovery prospects.
The Bitcoin price declined sharply over the weekend, erasing recent gains and sliding to around $76,860 at the latest check.
The weekly loss stood at roughly 5%, as leveraged traders were caught off guard by a rapid sell-off that pressured key support levels.
Data from CoinGlass shows that about $677 million in long positions were liquidated within 24 hours, marking the largest one-day wipeout since early February.
By comparison, short liquidations totaled around $65 million, highlighting an imbalance in bullish positioning before the decline.
Ethereum recorded approximately $244 million in long liquidations, while Bitcoin accounted for about $160 million during the same period.
Market observers linked the downturn to higher-than-expected US inflation data, rising Treasury yields, and renewed geopolitical uncertainty, all contributing to reduced demand for risk assets.
US spot Bitcoin ETFs experienced net outflows of nearly $263 million in one session prior to the break below $77,000, reinforcing a cautious market tone.
Federal Reserve policy cues and ETF flow data remain central indicators for near-term direction.
Key Support and Resistance Levels
Bitcoin is consolidating slightly above the $77,000 level after touching weekend lows between $75,600 and $76,500, according to MEXC market data.
The $77,000 zone has become an immediate support area, with clustered stop-loss orders and psychological significance attached to the round number.
On the upside, resistance is seen at $78,000, followed by higher thresholds at $80,000 and the $82,000 to $84,000 range.
The Crypto Fear & Greed Index has fallen to 28, indicating “Fear,” a level often associated with either potential rebounds or extended pullbacks.
Analysts outline three potential scenarios from current levels.
In a bullish case, holding above $77,000 and renewed ETF inflows could support another attempt at reclaiming $78,000 and possibly $80,000.
A base scenario would involve sideways trading between $76,000 and $78,000 as macroeconomic uncertainty limits conviction.
A bearish development would be a decisive break below the $75,000 to $76,000 range, which could shift attention toward $74,500 and longer-term support near $69,000.
Bitcoin Hyper Presale Activity
As Bitcoin trades below $78,000, some market participants are evaluating alternative opportunities within the broader ecosystem.
Bitcoin Hyper ($HYPER), described as a Bitcoin Layer 2 project integrating the Solana Virtual Machine, is currently in its presale phase.
The project aims to address transaction speed and cost limitations by offering faster finality and smart contract functionality while referencing Bitcoin’s base-layer security.
According to published figures, the presale has raised approximately $32.7 million, with the token priced at $0.0136802 and staking options available for early participants.
