Key Highlights
- More than $220 million in cryptocurrency positions were liquidated over 24 hours, with long traders bearing most of the losses.
- Bitcoin open interest fell 2.20%, while CryptoQuant warned that profit-taking has reached its highest level since December 2024.
- Bitcoin wallets holding between 10 and 10,000 BTC accumulated 41,025 BTC over the past 10 days, according to Santiment.
Crypto Liquidations Top $220 Million as Bitcoin Rally Faces Fresh Pressure
More than $220 million in cryptocurrency positions were liquidated over the past 24 hours, according to Coinglass data, with long traders suffering most of the losses. The liquidations came as Bitcoin’s open interest declined 2.20% during the same period.
A decline in open interest alongside a price increase typically indicates that short sellers are buying back contracts to close losing positions. Investor sentiment remained in the “Greed” territory, according to the Crypto Fear & Greed Index, while the global cryptocurrency market capitalization rose 0.30% over 24 hours to $2.96 trillion.
Stock Market Extends Losses as Treasury Yields Rise
U.S. stocks continued their downward trend on Tuesday. The Dow Jones Industrial Average fell 131.59 points, or 0.26%, to close at 51,349.9. The S&P 500 declined 0.16% to finish at 7,670.84, while the Nasdaq Composite slipped 0.09% to close at 26,797.54.
Bond yields also moved higher, while talks aimed at ending the war in Iran made limited progress. The yield on long-dated 10-year Treasury notes climbed to 5.29%, its highest level since 2007. The 30-year Treasury yield rose above 5.6%, reaching its highest level since June 2002.
CryptoQuant Says Bitcoin Rally Is Showing Cracks
On-chain analytics firm CryptoQuant said Bitcoin profit-taking had reached its highest level since December 2024, describing the development as a sign that demand is “fading.”
“The bull market is intact, but the rally is showing cracks. $80,000 is the first support to watch,” CryptoQuant added.
The warning comes as traders assess whether continued profit-taking could weaken Bitcoin’s advance. CryptoQuant identified $80,000 as the first support level to monitor while maintaining that the broader bull market remains intact.
Bitcoin Accumulation Remains Concentrated Among Larger Wallets
Blockchain research firm Santiment reported that wallets holding between 10 and 10,000 Bitcoin accumulated 41,025 $BTC over the past 10 days. Their share of Bitcoin’s total supply increased to 67.93%.
By contrast, retail wallets holding less than 0.01 $BTC have remained largely “flat” since Bitcoin reached its $87,000 price peak. Santiment described the divergence between larger and smaller wallets as potentially constructive but cautioned that it does not guarantee a price move.
“The current divergence is encouraging, but it isn’t a guaranteed price signal,” Santiment stated. “That combination has repeatedly appeared before stronger Bitcoin moves.”
Why This Matters
The combination of elevated crypto liquidations, declining Bitcoin open interest and increased profit-taking highlights the market’s sensitivity after a strong price advance. At the same time, accumulation by wallets holding 10 to 10,000 BTC suggests that larger holders have continued adding to their positions, even as smaller retail wallets remain largely unchanged.
Investors are also navigating a broader risk environment shaped by falling stock indexes and sharply higher Treasury yields. The next key indicators include Bitcoin’s ability to hold the $80,000 support level identified by CryptoQuant, changes in open interest and whether accumulation by larger wallets continues.
Frequently Asked Questions
How much cryptocurrency was liquidated?
More than $220 million in crypto positions were liquidated over the past 24 hours, with long traders experiencing most of the losses.
What happened to Bitcoin open interest?
Bitcoin open interest declined 2.20% over the last 24 hours. When open interest falls alongside a price increase, it typically indicates that short sellers are closing losing positions by buying back contracts.
What Bitcoin support level is CryptoQuant watching?
CryptoQuant identified $80,000 as the first Bitcoin support level to watch while saying that the bull market remains intact but the rally is showing cracks.