Bitcoin Price Falls Below $76K as Liquidations Hit $342M

Table of Contents Bitcoin fell sharply below $76,000 after days of steady gains and erased recent upward momentum. The asset traded near $75,800 at press time and recorded a 2.5% daily loss. CryptoQuant attributed the sudden reversal to forced liquidations across derivatives markets rather than spot demand shifts. Bitcoin slid nearly 4% from its weekly high of $79,500 within two days and extended losses through Monday. Data showed that traders liquidated $342 million in positions over 24 hours, including $270.3 million in long bets and $71.7 million in short bets. CryptoQuant cited research from XWIN Japan to explain the rapid decline. The firm stated that “a sudden unwind of leveraged positions” drove the move instead of traditional supply-demand pressure. The report added that forced closures accelerated selling as exchanges hit margin thresholds. The liquidation wave started over the weekend when liquidity thinned across major platforms. During that period, institutional desks reduced activity, and order books showed less depth. As a result, even limited selling pressure pushed prices lower and triggered automated liquidations. Exchanges closed overleveraged long positions once prices breached key levels. This process added fresh sell orders and intensified downward pressure. The Bitcoin price failed to recover quickly because buying interest did not offset the forced selling. CryptoQuant CEO Ki Young Ju earlier warned about derivative-led growth. He said the recent rebound relied more on futures markets than on real spot demand. He pointed to a 30-day spot and perpetual futures demand chart that remained in negative territory. Bitcoin’s Sudden Drop Explained — Structural Downside Driven by Leverage Liquidations “Weekend market structure played a key role. With reduced participation from institutions and liquidity providers, order books become thin, making prices more sensitive to market orders.” – By… pic.twitter.com/zxNE0bjuOV — CryptoQuant.com (@cryptoquant_com) April 28, 2026 CryptoQuant data showed Bitcoin open interest climbed to $25.1 billion as prices recovered earlier in April. This rise indicated that traders increased their exposure through leveraged derivatives positions. Higher leverage created conditions that could trigger sharp volatility once momentum weakened. XWIN Japan explained how larger players track liquidation clusters in derivatives markets. The firm stated that professionals often identify dense liquidation zones and “push prices into these areas.” This action can activate cascading sell-offs and release trapped liquidity. The report noted that such events unfold quickly in thin market conditions. When prices fall into liquidation clusters, exchanges automatically close positions. Each closure adds new sell pressure and deepens short-term losses. Bitcoin maintained support above $73,000 despite the pullback. Analysts stated that holding this level keeps near-term structure intact. At press time, Bitcoin traded around $75,800 and remained down over 2.5% in the past 24 hours. The broader crypto market also recorded losses during the same period. Liquidations spread across major digital assets as leverage unwound. Data showed that long positions accounted for most of the forced closures. CryptoQuant maintained that derivative activity shaped the recent price action. The firm reiterated that liquidity events can override gradual sentiment shifts. Current data showed open interest elevated while spot demand growth stayed negative.