#比特币反弹 The wave of liquidations in the crypto market reappears: $400 million in liquidations, the market re-enters a weak zone, how low can Bitcoin drop this time?
In the past 24 hours, the crypto market has experienced intense volatility again. A total of 143.8k traders were liquidated, amounting to $410 million. Price levels: Bitcoin briefly dipped to $73,669, Ethereum fell to around $2,250. Meanwhile, the RAVE project collapsed, and hacking incidents occurred frequently, directly disrupting the recently recovering altcoin rally. Market sentiment has cooled again, and this is not just a single-point decline but a structural weakening.
1. BTC: The rebound is more of an opportunity than a reversal
From a technical perspective, Bitcoin is currently in a very typical stage: the daily chart shows two consecutive bearish candles with obvious long upper shadows, indicating a lack of momentum for a rebound and clear resistance.
The bearish outlook hinted around $78,000 has now played out well.
How to interpret the current structure?
This round of movement is essentially: “Fake breakout → Transition to consolidation → Continued decline.” Whether it’s a triangle fake breakout or the current channel pattern, the core remains unchanged: the trend is still downward.
Key levels
Resistance above: $78,000 – $81,000
Support below: $73,500 (already weakening)
If the price rebounds to the resistance zone, it’s more likely to face resistance and fall back rather than trend reversal.
Short-term strategy
Currently, avoid emotional shorting, but consider: participate if rebounding to resistance.
During the decline, only short-term rebounds are recommended; avoid fighting the trend.
One point to watch carefully: in a downtrend, “support” is more of a brief pause rather than a reversal signal.
2. ETH: The structure has weakened, focus on resistance for rebounds
Ethereum’s current situation is more straightforward: it has broken below the upward channel, showing clear signs of weakening on the daily chart.
In the short term: on the 1-hour chart, there is a rebound demand, but the overall trend remains downward.
Key levels
Rebound resistance: $2,350 – $2,380
Support below: $2,250 → $2,220 zone
If it breaks below $2,250, the next support is likely near the middle Bollinger band on the daily chart or the mid-term moving averages. The short-term logic remains:
Observe resistance during rebounds, not chase the rally.
3. BNB: Short-term recovery, but the major trend remains unchanged
After continuous decline, BNB shows signs of short-term recovery (similar to a bullish wedge pattern). But it’s important to clarify: the daily chart has shown signs of a phase top. The current rebound is more of a “technical correction.” If it rebounds to the key resistance zone, caution is still needed as further weakness is possible.
4. Altcoin sector: Sentiment damaged, divergence intensifies
Recently, the core issue in the altcoin market is not price movement but confidence erosion. Project collapses (like RAVE), frequent security incidents, and declining risk appetite have led to one result:
Overall weakness, but some structural opportunities remain.
Key observations:
CHZ is driven by news, with a relatively independent and stronger structure, better to wait for a pullback before participating, not chasing highs.
SUPER shows a double-top-like structure with selling pressure at the top, leaning more toward sideways weakening.
AKE’s triangle convergence pattern shows narrowing volatility, watch for direction (upward or downward breakout).
CRCL is oscillating in a range with support still intact; in the short term, it looks more like sideways consolidation rather than a trend.
5. The core of the current market
To sum up the current market in one sentence: downward trend + fragile sentiment + increased volatility. In this environment, frequent trading ≠ high returns; emotional trading ≈ high risk of losses. The two most common mistakes at this stage are:
Mistaking rebounds for reversals
Overtrading in a weak market
The truly effective strategy is actually very simple:
Wait for key levels
Take high-probability actions
Control market positions
There are always opportunities, but not every fluctuation is worth participating in.