Bitcoin dropped back below $86,000 on Wednesday, erasing the gains from Tuesday.
Notable Statistics:
- Coinglass data shows 143,978 traders were liquidated in the past 24 hours for $ $490.00 million.
- In the past 24 hours, top losers include Bittensor, SPX6900 and PancakeSwap.
Notable Developments:
- Is Crypto Really Dead — Or Just Losing Its Separate Identity?
- ‘Love Letter’ Details Bitcoin’s Journey From Pizza Purchase To Global Asset Class
- Trump-Pardoned Changpeng Zhao May Be ‘Retired’ But Binance’s US Strategy Says Otherwise
- Bitcoin’s Death Cross Looks Scary Until You Realize What Happened Last Time
- Elizabeth Warren Wants Crypto Investigation, But Coinbase Execs Meet Tim Scott To Negotiate Market Structure Bill
- Michael Saylor Says Quantum Computing Will Make Bitcoin ‘Stronger,’ Not Break It — What’s His Reasoning?
- Senators Introduce SAFE Crypto Act To ‘Protect Americans Against Scams In All Industries’
Trader Notes: Michael van de Poppe said Bitcoin is attempting an upside push, with a large cluster of shorts at risk. A clean breakout and hold above $88,000 could open the door to a fast move toward $93,000–$94,000.
Bitcoin Archive noted that BTC has already swept liquidity above $90,000, while sizable liquidation pools remain below around $86,000. Thin overhead liquidity suggests limited resistance near $88,900.
DonWedge highlighted a sharp $4,000 drop in just 90 minutes, wiping out $130 billion in market cap and liquidating roughly $150 million in long positions. The move appeared liquidity-driven rather than macro-led, consistent with large players selling into strength and re-accumulating lower.
The takeaway is that volatility remains high, but the price action looks more like tactical accumulation than a structural breakdown, keeping the broader bull thesis intact once liquidity resets.
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