Bitcoin rebounded to $67,137 after briefly falling below $65,000, posting a 1.51% gain over the past 24 hours. The move followed news that US President Donald Trump had announced the start of ceasefire talks with Iran, which helped BTC recover quickly from its intraday lows. Ether also moved higher, trading at $2,036 with a 2.18% 24-hour increase.
Earlier in the session, Bitcoin slid from a daily high of $66,997 to as low as $65,546, briefly breaking the $65,000 threshold. That sharp drop triggered heavy pressure across leveraged positions and pushed market volatility higher in a short span.
More than 63,000 traders liquidated in 24 hours
According to CoinGlass, total crypto liquidations reached $217.7 million over the past 24 hours. Long positions accounted for $110.9 million, or 50.9%, while short liquidations came in at $106.8 million, or 49.1%. The near-even split showed that both sides of the market were hit as prices swung lower and then reversed.
A total of 63,279 traders were liquidated. The largest single liquidation was a BTC-USD position on Hyperliquid worth $8.27 million. The price action left leveraged traders exposed on both ends, with little room for directional conviction.
Ceasefire talks lifted sentiment, but oil and ETF flows sent mixed signals
The immediate catalyst behind the rebound was the ceasefire negotiation signal related to Iran. Markets interpreted the development as a sign that tensions around the Strait of Hormuz could ease. Oil, though, pointed to lingering stress. WTI crude settled on March 30 up 3.25% at $102.88, climbing back above the $100 mark.
ETF flows also painted a mixed picture. Spot Bitcoin ETFs recorded $2.5 billion in net inflows for March, and BlackRock's IBIT brought in $380 million in one week. Even so, the previous week saw $280 million in net outflows, suggesting institutional demand has not yet formed a consistent floor.
$65,000 remains a key support zone
Order book data showed unusual depth around $65,000, ranking in the historical 99th percentile. Across 1%, 2%, 5%, and 10% price depth bands, buy-side liquidity in that area was among the top 1% historically. Bitcoin then bounced within hours from around $65,000 back into the $67,000 to $68,000 range, while the 4-hour chart registered a bullish structure break.
If BTC can hold $66,700 into the daily close, the short-term rebound target being watched is $71,000. The report said roughly $1.6 billion in short positions could face liquidation near that level.
Extreme fear extends to 46 straight days
The Crypto Fear and Greed Index came in at 11 today, slightly above yesterday's 8 but still deep in the “extreme fear” range. That reading has now stayed in the same zone for 46 consecutive days, the longest stretch since the FTX collapse.
Altcoin participation remained limited. SOL traded at $82.59, up 1.04% over 24 hours, while XRP fell 0.43% to $1.32. Total crypto market capitalization stood near $2.2 trillion, pointing to a cautious tone and narrow rotation across major assets.
In traditional markets, the S&P 500 closed down 0.39% at 6,343.72, the Nasdaq dropped 0.73% to 20,794.64, and the Dow Jones Industrial Average rose 0.11% to 45,216.14 on March 30. The report also noted that April 1 seasonality and Monday trading tendencies were both in focus, leaving $66,700 as the immediate level to watch.