Bitcoin rangebound near $70,000 as $250M in 24-hour liquidations hit market

Bitcoin stayed rangebound around $70,000 and eyed multiday lows into Tuesday’s Wall Street open, slipping about 2.3% on the day with $68,500 now a focal point. The narrow local trading range retained significance for market participants, and CoinGlass data showed more than $250 million in crypto liquidations over the prior 24 hours.

Pseudonymous trader CryptoReviewing noted that $BTC pumped to $71,000, liquidating $130 million of shorts, then dumped back to $68,000, liquidating another $150 million of longs. He warned that liquidity clusters sit above at $72,000–$74,000 and that 66,000–68,000 holds even larger leveraged liquidity, making that zone a higher-probability sweep as bears attempt to regain control.

Material Indicators added that whales continued selling over the last 24 hours and setups point toward a low-time-frame retest of local support.

United States, Wall Street

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