Bitcoin reversed after climbing to $76,276, then failed to hold above $75,000 and slid as low as $73,760. It was trading near $74,244 later in the session. Ether also weakened, touching $2,286, while major tokens broadly moved lower.
$415.9 million liquidated in 24 hours, longs take the hit
CoinGlass data cited in the source showed that 162,621 traders were liquidated across the crypto market over the past 24 hours, with total liquidations reaching $415.9 million. Long positions accounted for 90.61% of that total. Based on the same figures, more than 113 traders were cleared out every minute on average. The largest single liquidation was a $9.63 million BTCUSDT position on Binance.
Pressure on bullish positions was not limited to the daily window. The source said long-liquidation ratios stayed between 87% and 99% across the 1-hour, 4-hour, and 12-hour time frames. That points to sustained stress on leveraged longs rather than a brief flush. Once Bitcoin lost traction around a major round-number level, liquidation pressure accelerated.
$75,000 remains a heavy ceiling as options positioning draws focus
The report linked Bitcoin’s difficulty above $75,000 to a structural factor in the options market. Deribit’s options expiry Max Pain level sits around that zone, and market makers are seen as having an incentive to keep spot prices pinned close to it, making a breakout harder to maintain.
Analysts are split on what comes next. Bloomberg Intelligence analyst Mike McGlone warned that failure to defend $75,000 could raise the risk of a bubble break, while Fundstrat co-founder Tom Lee said $72,000 marked the bottom of the current move. ETF flows also swung sharply in the source material: spot Bitcoin ETFs logged a $471 million net inflow on April 6, then shifted to a $325 million net outflow on April 13, with part of the money rotating into Ether ETFs.
Altcoins stay under pressure, with SOL lagging
Broader crypto performance stayed soft. SOL traded at $85.92, down 3.06% over 24 hours, a steeper drop than Bitcoin. XRP held up better at $1.48. The source also noted that XRP recently launched on Solana in wrapped form as wXRP under a 1:1 peg, and the related liquidity pool has passed $100 million.
Market sentiment showed only a modest recovery. The Fear and Greed Index stood at 29, still in the fear zone, up from 27 a day earlier and above last week’s low of 12. U.S. equities moved higher over the same period, with both the S&P 500 and Nasdaq closing in the green, but that strength did not carry into crypto. For now, trading remains centered on resistance near $75,000 and support around $72,000.