Bitcoin nearly dropped below $86,000 while Ether fell through $2,800, sending fresh pressure through a crypto market already dealing with thin weekend liquidity. After BTC lost the $87,000 level, attention shifted quickly to whether the $68,000 to $74,000 range can hold as the next major support area.
The move carried weight because $87,000 had been treated as a core defensive level for bulls and had been tested repeatedly after the pullback from the October 2025 high. Once that support gave way, traders started reading the decline less as a routine correction and more as a possible change in trend. Daily price action showed a heavy selloff, and algorithmic selling added to the downside. Ether followed the same path: after slipping below $3,000, it extended losses under $2,800, with the market watching the $2,750 demand zone.
Leveraged longs take the hit
Liquidation data captured the speed of the move. According to Coinglass, total crypto liquidations over the past 24 hours reached $660 million, with long positions making up the overwhelming share. Many leveraged traders trying to catch the dip were forced out as prices fell, adding more selling pressure into the market. The Fear and Greed Index also dropped to 20, placing sentiment in extreme fear territory.
Institutional flows showed the same defensive tone. Spot Bitcoin ETFs posted $483 million in net outflows over the past day, suggesting that some larger investors stepped back rather than buying into volatility. With spot demand weakening, the market lost an important source of near-term support.
Macro pressure and regulation remain in focus
Technical weakness has not been the only issue. The report said the Trump administration’s high-tariff policy introduced in 2025 has continued to weigh on global risk appetite by lifting supply-chain costs again. At the same time, the Clarity Act, seen by some as a possible regulatory framework for the sector, has still not passed Congress, leaving exchanges and institutions cautious about the policy outlook.
For now, the market is focused on the $68,000 to $74,000 zone after the loss of $87,000. That range also sits near the 200-week exponential moving average. A break below it would put Bitcoin’s medium- and long-term uptrend under heavier strain. If selling slows and ETF inflows recover, traders may start to see a more stable base form.