$BTC just fell under $78,000. $1.1 billion in liquidations across crypto in the last 24 hours.
The next real support level to watch: the 50-week moving average at $75,766. If that breaks, things get messy fast. That level has historically acted as a floor during pullbacks — losing it would signal more than just a dip, it'd mean the broader structure is cracking.
Liquidation cascades like this amplify volatility. Leveraged longs get wiped, which pushes price lower, which triggers more liquidations. It's a feedback loop. The question now is whether spot buyers step in around $75k or if we see capitulation below that.
Keep an eye on funding rates and open interest. If funding goes negative and OI drops hard, that's usually a sign the flush is near done. If it stays elevated, more pain ahead.
The next real support level to watch: the 50-week moving average at $75,766. If that breaks, things get messy fast. That level has historically acted as a floor during pullbacks — losing it would signal more than just a dip, it'd mean the broader structure is cracking.
Liquidation cascades like this amplify volatility. Leveraged longs get wiped, which pushes price lower, which triggers more liquidations. It's a feedback loop. The question now is whether spot buyers step in around $75k or if we see capitulation below that.
Keep an eye on funding rates and open interest. If funding goes negative and OI drops hard, that's usually a sign the flush is near done. If it stays elevated, more pain ahead.
