Short Description: Bitcoin plunged to $75,000 over the weekend, triggering $800 million in liquidations and threatening key support levels that could signal a deeper market correction.
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Main Article
Bitcoin (BTC) underwent a severe liquidation cascade during weekend trading, plummeting over 7% to briefly touch $75,000. This marks its lowest price since April 2025 and resulted in a staggering $800 million in leveraged positions being wiped out. The sell-off accelerated in thin weekend liquidity, pushing BTC price decisively below the critical $80,000 support level that traders were closely monitoring. Analysts highlight that the velocity of the drop underscores significant selling pressure and a lack of immediate buy-side interest, even as traditional assets like stocks and gold continue to rally.
Technically, the breakdown is particularly concerning as Bitcoin has fallen below its “True Market Mean” – the aggregate cost basis for the current active supply – for the first time since late 2023. This key metric, sitting near $80,700, is now acting as resistance, suggesting the average holder is now at a loss. Market observers are now eyeing the next major historical support level at the previous cycle’s all-time high near $69,000. The rapid Bitcoin liquidation event has shifted market sentiment, with the focus turning to whether this is a short-term washout or the start of a more prolonged bearish phase.
The downturn also carries significant implications for corporate holders. Strategy Bitcoin holdings, the largest corporate treasury with over 700,000 BTC, have dipped into the red against the company’s aggregate cost basis of approximately $76,037. This has compounded pressure on Strategy’s stock (MSTR), which has fallen nearly 70% from its 2024 highs. The situation illustrates the heightened volatility and risk even for large-scale, long-term holders in the current crypto market environment and raises questions about broader institutional confidence.
Short Summary
Bitcoin’s sharp decline to $75,000 triggered massive liquidations and broke below the key True Market Mean support. This technical breakdown, combined with Strategy’s corporate treasury falling underwater, points to intensified selling pressure. Traders are now watching the $69,000 level, last cycle’s peak, as the next major test for BTC price action in this volatile crypto market correction.
