Bitcoin Tests $76,800 Support as $1.5B in Leveraged Positions Liquidate Across Crypto

Sharp De-Leveraging Across Digital Assets

Bitcoin (BTC) retreated into the $76,800–$77,100 range this week, testing crucial institutional demand near $75,000 after more than $1.5 billion in leveraged long positions were liquidated across major derivatives venues.

Catalysts Behind the Pullback

• Nasdaq Correlation: Steep sell-offs in US technology equities spilled over into high-beta digital assets.
• Exchange Security Jitters: Market sentiment was rattled following disclosures of a major exchange security incident, even as frozen funds and recovery commitments helped stabilize order books.

Major Token Levels

Ethereum (ETH) is consolidating near $2,240, while Solana (SOL) is testing support in the $95–$96 zone.

Trader Outlook

With perpetual funding rates reset to neutral/negative territory, spot buyers are watching the $75,000 BTC floor for signs of institutional re-accumulation.