Bitcoin, Ethereum, XRP Plunge 10% In $1.5 Billion Liquidation Tsunami

Bitcoin fell right through the $70,000 mark on Thursday, with over $1.5 billion in liquidations sweeping through the markets.

Notable Developments:

• Bitcoin, Ethereum, XRP Sentiment Turns Extremely Bearish In Crypto Market Crash
• Crypto Market Structure Bill Pulled ‘Not Because Of What Coinbase Said’: Report
• Is Michael Burry Accidentally Bullish On Bitcoin?
• Robinhood Stock Drops As Bitcoin Slides Toward $67,000
• Scott Bessent ‘Would Not Be Surprised’ If China Was Building Digital Assets Backed By Gold
• Bitcoin Plunges Below $70,000, But Underwater ETF Buyers Haven’t Sold (Yet)
• Congressman Ro Khanna Launches Investigation Into $500 Million UAE Investment In Trump Family Crypto Firm World Liberty Financial

Trader Notes: Trader Altcoin Sherpa said Bitcoin is revisiting its 200-week exponential moving average for the first time since 2023, a level that has historically acted as strong long-term support.

While brief dips below are possible, he views the $60,000 region as a reasonable zone to begin accumulating.

Crypto Tony warned that Bitcoin has broken below the 200-week EMA in prior cycles, most notably in 2022, when prices eventually fell roughly 44%.

A similar move would imply downside toward the $35,000 area, which he has previously flagged as a potential cycle low.

He added that interim relief bounces are still likely, stressing this is a risk scenario rather than a base case.

Crypto Reviewing noted Bitcoin flushed below $67,000, triggering roughly $1 billion in liquidations on the day, following about $500 million the prior session.

He highlighted the $63,000–$67,000 range as the final major downside liquidity zone that needs to hold to avoid deeper losses.

On the upside, heavy liquidity remains stacked between $72,000 and $78,000, making a revisit to that zone likely if price stabilizes.

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