Cryptocurrency Liquidations Reach $200 Million... Bitcoin Faces $84,000 'Sell Wall'

# Cryptocurrency Market Sees $199.98 Million in Liquidations Over 24 Hours The cryptocurrency perpetual futures market experienced a total liquidation of positions worth $199.98 million over the past 24 hours, representing a 22% decrease compared to the previous day, indicating a slight easing of market volatility. According to data from Coinglass, this liquidation impacted a total of 81,530 traders. Bitcoin (BTC) saw the largest liquidation, with positions worth $75.05 million cleared. Ethereum (ETH) followed, with $35.60 million in positions liquidated, while various altcoins saw a cumulative liquidation of $106.16 million. Noteworthy among these were XRP ($10.47 million), Solana (SOL, $7.99 million), and Litecoin (LTC, $4.26 million). In terms of position types, long (buy) positions accounted for $125.61 million in liquidations, and short (sell) positions accounted for $74.38 million. The largest single liquidation transaction occurred on Binance with a BTCUSDC trade amounting to $9.34 million. # Bitcoin Faces Resistance at $84,000 Amid Liquidity Wall Bitcoin is struggling to break through the $84,000 mark as significant liquidity is concentrated around this price level, creating a challenging resistance. Coinglass's Bitcoin liquidation heatmap indicates a strong liquidity wall near $84,000. This suggests heightened sell pressure or the potential for significant liquidations at this price point. Investors perceiving $84,000 as a resistance level could build short positions or trigger long position liquidations, potentially capping price gains. Currently, Bitcoin is consolidating around the $80,000 level, and if volatility increases, there could be additional large-scale liquidations. Analysts highlight that the ability to surpass $84,000 will be a critical factor in determining Bitcoin's future direction.