Bitcoin Reclaims $81K After $109 Million Long Liquidation Event
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Bitcoin slipped below $80,000 this week before briefly reclaiming $81,000, as a $109 million long-liquidation event and sharply reduced exchange outflows (about 19,995 BTC on May 11 versus ~28,000 previously) signaled weakening spot demand and sell pressure on CEXs. Traders now watch key support at $79,000 with a possible rebound toward $86,000 if it holds, but the derivatives-driven leverage unwind and market fragility raise downside risk for BTC and the broader crypto and DeFi markets.
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- Exchange netflow turned positive, signaling weaker spot demand and sell pressure.
- Long liquidations accelerated the drop as leverage unwound across the derivatives market.
- Traders focus on $79K support, with potential rebound toward $86K if held, remains key.
Bitcoin slipped below the $80,000 mark this week as weak exchange outflows, heavy leverage, and renewed inflation fears combined to pressure the market. Although BTC recovered above $81,000 during Thursday trading, analysts said the recent sell-off exposed growing fragility beneath the surface of the market. Traders now watch whether Bitcoin can defend key support near $79,000 and avoid a deeper correction.
Exchange Flows Pointed to Weakening Demand
According to CryptoQuant data, Bitcoin outflows from exchanges dropped sharply by May 11. Daily withdrawals fell to roughly 19,995 BTC, far below the 28,000 to …
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Coins
$ 64.12K
-0.38%
$ 0.00182
+2.42%Predictions Markets
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In This News
Coins
$ 64.12K
-0.38%$ 0.00182
+2.42%Predictions Markets
See what traders are focused on
Share:
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Bitcoin’s $64K rebound has three days before its next big challenge threatens to derail momentum
