Bitcoin Falls Below $76,000 After $43M in Long Liquidations

Bitcoin fell 0.7% to about $76,200 on April 28, slipping below $76,000 after roughly $43 million of long positions were liquidated in a 24-hour period. Market capitalization declined to about $1.52 trillion from $1.54 trillion a day earlier.

The cryptocurrency rose to an intraday high of $77,474 before reversing and sliding to a low of $75,657 by 10:39 a.m. EDT, its weakest level since April 22. A partial recovery pushed the price back above $76,000, but bitcoin finished the 24-hour window down 0.7%.

Market data show nearly $43 million in long bets were liquidated over 24 hours, compared with roughly $8 million in short liquidations. By contrast, about $110 million in long positions were liquidated on Monday.

Some traders linked the price change to a pause in fighting in the Middle East over the prior 48 hours and to a faster repricing of liquidity, which shifted market attention away from geopolitical risk. Market participants said price action was increasingly shaped by tactical positioning and leverage rather than by safe-haven flows.

Bitunix analysts project bitcoin will trade between $76,000 and $80,000 under current leverage patterns and identify concentrated liquidation risk in the $76,000–$77,000 zone and short-side pressure in the $78,500–$80,000 band.

According to a Bitunix analyst: “After approaching the $80,000 level, the price has rotated lower, shifting into a long liquidation phase. Liquidation heatmaps show a renewed concentration of long-side liquidation risk in the 76,000–77,000 zone, while the 78,500–80,000 range above continues to act as a short-side pressure and liquidity cluster.”

Bitcoin had climbed as high as $79,490 early Monday before the recent pullback. Market analysts noted the pattern of rapid gains followed by sharp liquidations and the presence of concentrated leverage clusters at key price bands.