"Market Panic Due to Bitcoin Plunge: $910 Million Liquidated... Where Are the Resistance and Support Levels?"

# Crypto Market Sees $917.61 Million in Liquidations, Bitcoin Faces Key Resistance at $92,500 In a significant turn of events, the cryptocurrency perpetual futures market witnessed a staggering $917.61 million in liquidations over a 24-hour period on the 25th. This marks an almost 300% surge compared to the previous day, attributed to the sharp decline in digital asset prices, including Bitcoin, which dipped below $91,000. According to data from CoinGlass, long positions accounted for the majority of liquidations, totaling $845.24 million. In comparison, short positions saw a lower liquidation value of $72.37 million. The sudden plummet in prices of major assets like Bitcoin and Ethereum resulted in substantial losses for investors holding long positions. Breaking down the liquidations by time frames reveals $19.14 million was liquidated within one hour, $68.68 million over four hours, and a substantial $661.55 million during twelve hours. The notable spike in liquidations over the 12-hour period significantly amplified market volatility. Individually, Bitcoin suffered liquidations amounting to $274.61 million, while Ethereum witnessed $196.16 million in liquidations. Solana (SOL) also experienced a sharp decline, driven by unlocking concerns, leading to the liquidation of positions worth $98.76 million. The largest single liquidation transaction recorded was a $10 million (XBTUSD) order on the Bitmex exchange. # Liquidation Heatmap Analysis: Key Resistance at $92,500, Support at $91,000 An analysis of the Bitcoin (BTC) liquidation heatmap indicates robust resistance forming at the $92,500 level. Conversely, a substantial support zone is established around $91,000, suggesting this price range could act as a critical inflection point. CoinGlass data reveals Bitcoin has been attempting to break through the $92,500 threshold after a recent downtrend. Nevertheless, this zone is densely populated with sell orders, creating strong resistance. Should Bitcoin fail to surpass this level, further downward adjustment is anticipated. On the support side, the $91,000 range is bolstered by significant buying pressure, likely due to recent influxes of purchasing during the decline. While an additional support level exists at $89,600, failure to maintain above this point could accelerate the downtrend. Considering the liquidation heatmap and the key price levels where major liquidations have occurred, Bitcoin’s short-term direction is expected to hinge on its ability to breach the $92,500 resistance. Investors would be prudent to prepare for potential volatility and adjust their strategies accordingly.