Bitcoin temporarily fell below $70,000, erasing gains built over the past 15 months.
\nOver $840 million in leveraged long positions were liquidated during the sell-off.
\nTraders now watch $65,000 support and $72,000 resistance for direction.<\/p>\n
Bitcoin has suffered one of its sharpest corrections in recent years, wiping out roughly 15 months of bull market gains in a swift and brutal sell-off.<\/p>\n
The world\u2019s largest cryptocurrency temporarily plunged below the psychologically important $70,000 level, shocking traders who had grown accustomed to sustained upside momentum.<\/p>\n
The move did not happen in isolation, as it was accompanied by heavy liquidations, weakening sentiment, and visible stress across centralised exchanges.<\/p>\n
What initially appeared to be a routine pullback quickly evolved into a deeper reset for the broader crypto market<\/a>.<\/p>\n Bitcoin\u2019s drop to the $69,000\u2013$70,000 range marked its lowest level in around 15 months, effectively erasing much of the progress made during the previous bull cycle.<\/p>\n This decline pushed BTC back toward price zones last seen before institutional inflows and ETF-driven optimism reshaped market expectations.<\/p>\n As the price broke below the key support level at $70,000, selling pressure intensified, and confidence among short-term traders deteriorated rapidly.<\/p>\n The correction also dragged down major altcoins, reinforcing the idea that this was a market-wide deleveraging event rather than a Bitcoin-only move.<\/p>\n From a market structure perspective, the fall represented a decisive break from the higher-highs and higher-lows pattern that had defined Bitcoin\u2019s uptrend.<\/p>\n One of the most significant drivers behind the crash was a massive wave of forced liquidations across crypto derivatives markets.<\/p>\n CoinGlass data<\/a> shows that more than $840 million worth of leveraged positions were wiped out in a short period, with long positions accounting for the majority of losses.<\/p>\n As Bitcoin slipped below critical price thresholds, automated liquidation engines kicked in, amplifying downside momentum.<\/p>\n This cascade effect turned a controlled decline into a sharp flush, catching overleveraged traders off guard.<\/p>\n The liquidation-heavy nature of the drop suggests the move was driven more by market positioning than by a single fundamental catalyst.<\/p>\n After months of elevated leverage and crowded long trades, the market finally reached a breaking point.<\/p>\n At the same time, on-chain data from CryptoQuant shows notable Bitcoin outflows from major exchanges, particularly Binance.<\/p>\n Bitcoin exchange netflow | Source: CryptoQuant<\/a><\/p>\n A community-driven withdrawal campaign contributed to a sharp net outflow of BTC, briefly reducing exchange reserves.<\/p>\n In a\u00a0<\/a>recent press release<\/a>, Binance publicly addressed speculation about these movements, denying claims of financial instability and emphasising<\/span>\u00a0that withdrawals were proceeding normally.<\/p>\n The exchange also encouraged users to practice self-custody if they felt uncertain, which further highlighted shifting trust dynamics within the market.<\/p>\n Despite the price crash, some analysts view sustained exchange outflows as a sign that long-term holders are not panic-selling.<\/p>\n This divergence between short-term trader behaviour and longer-term investor positioning adds complexity to the current market narrative.<\/p>\n Looking ahead, traders should closely watch several key levels as Bitcoin attempts to stabilise after the sell-off.<\/p>\n The $70,000 zone now acts as immediate support, and a break below this level could push the price towards the $65,000 area, which stands out as a major support zone, as it aligns with previous consolidation ranges.<\/p>\n BTC price chart | Source: TradingView<\/a><\/p>\n A deeper breakdown could expose Bitcoin to a move toward the $60,000 psychological level, where buyers may attempt a stronger defence.<\/p>\n On the upside, a sustained recovery above $72,000 would be an early sign that selling pressure is easing.<\/p>\n For now, volatility remains elevated, and traders are likely to stay cautious until Bitcoin establishes a clearer direction.<\/p>\n The post Bitcoin erases 15 months of gains, falls below $70K amid $840M liquidations<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin temporarily fell below $70,000, erasing gains built over the past 15 months. Over $840 million in leveraged long positions were liquidated during the sell-off. Traders now watch $65,000 support and $72,000 resistance for direction. Bitcoin has suffered one of its sharpest corrections in recent years, wiping out roughly 15 months of bull market gains […]<\/p>\n","protected":false},"author":0,"featured_media":6307,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-6306","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/6306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=6306"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/6306\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/6307"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=6306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=6306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=6306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin price crash wipes out 15 months\u2019 gains<\/h2>\n
Liquidations accelerate the sell-off<\/h2>\n
Massive Bitcoin outflows from exchanges<\/h2>\n
Bitcoin price forecast \u2013 what to look at in the coming days<\/h2>\n