Macro headwinds drive a $1.4 billion liquidation event, pushing Bitcoin toward $75,000 support and forcing Ether to test its 55-day moving average.
Bitcoin is experiencing a significant correction as a combination of rising Treasury yields and oil prices creates a macro shock that undermines its recent rally. The asset is currently facing heavy selling pressure, evidenced by $484.9 million in ETF redemptions and nearly $974 million in total market liquidations, forcing a test of critical support levels between 75,026 and 76,040.
Bitcoin is currently testing support in the 75,026–76,040 range.
Ether is suffering alongside the broader crypto market as macro headwinds dampen investor sentiment and trigger widespread liquidations. The asset has lost its upward momentum and is currently testing its 55-day Exponential Moving Average (EMA) near the 2,480 level, signaling a deepening technical correction.
Ether is currently testing its 55-day EMA, which is situated near 2,480.
Bitcoin and Ether face intense selling pressure as rising Treasury yields and oil prices trigger a massive market correction. The sell-off resulted in $484.9 million in ETF redemptions and nearly $974 million in total liquidations, signaling a sharp reversal for the asset class.
The decline was driven by a combination of fading momentum, surging oil prices, and Treasury yields climbing toward 5.35%, which prompted significant liquidations and ETF redemptions.