Bitcoin Falls Below $75K as Nearly $1B in Futures Liquidate

Bitcoin traded as low as $74,344 early Saturday and was around $75,500 at the time of reporting, down about 1.8% over 24 hours and 2.7% for the week. The price had exceeded $80,000 last week.

Data from CoinGlass showed roughly $917 million in crypto futures liquidations over the prior 24-hour period, led by about $371 million tied to Bitcoin positions and roughly $261 million tied to Ethereum. Long positions accounted for about $827 million of the liquidations.

Farside Investors reported that Bitcoin exchange-traded funds registered more than $1.25 billion in withdrawals over the week, marking a sixth consecutive day of ETF outflows.

Rising U.S. Treasury yields coincided with the ETF outflows during the week. Market participants cited higher Treasury yields as a possible influence on investor risk appetite and ETF demand.

Other major tokens fell alongside Bitcoin. Ethereum traded near $2,059, down about 2.7% on the day, while Solana was around $84, off more than 3%.

Futures liquidations occur when leveraged positions are forcibly closed after prices move against traders. Concentrated long bets can accelerate price drops when many positions are liquidated in a short period.

Bitcoin’s recent volatility followed gains earlier in the month that pushed the price above $80,000. Over the last week, ETF flows moved to net outflows, coinciding with the price decline and higher liquidation activity.

Diego Martin, CEO of Yellow Capital, commented, “Geopolitical shocks no longer hit crypto directly the way they once did. They hit Treasury yields, which hit risk appetite, which hits ETF flows, which hit Bitcoin. The transmission is more institutional now.”

Traders and analysts are monitoring ETF flows, Treasury yields and macroeconomic data for signs of renewed inflows or further pressure on crypto markets.