BTCUSD declined below $70000 as broader market liquidation surges. Currently trading at about $69445, it has a high of $69439.
Driven by Bitcoin's erratic swings around the USD 70,000 threshold and rising geopolitical concerns, the cryptocurrency futures market had a massive liquidation event totaling almost USD 227 million to USD 245 million over 24 hours on March 11, 2026. With leveraged traders being wiped out by a 4% intraday BTC price swing and declining exchange reserves, long positions bore the bulk of the volatility—51–82% of the liquidation volume. Leading the liquidations, Bitcoin with up to USD 108 million impacted; Ethereum saw notable activity, including a lone USD 2.4 million long liquidation on OKX; all against a backdrop of increased Open Interest over USD 97 billion, which keeps on exacerbating market cascades across major exchanges like Binance and Bybit.
|
Technicals |
CMP -$69460 |
Trend |
|
|
4- Hour chart |
Value |
|
|
|
55 EMA |
$68735 |
CMP > 55 EMA |
Bullish |
|
200- EMA |
$70507 |
CMP <200- EMA |
Bearish |
|
365- EMA |
$74970 |
CMP < 365 EMA |
Bearish |
Major support- $64000/$60000/$52500/$50000. Minor bullishness only above $74000.
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bullish |
21.91 |
|
ADX |
Neutral |
|
It is good to buy on dips around $67000 with SL around $64000 for a TP of $80000.
