Bitcoin surged past $77,000 today, hitting $77,532 and posting an 8.6 percent gain in a single day. The move triggered $1.24 billion in crypto liquidations across the market over the past 24 hours, with Bitcoin positions accounting for $730 million of that unwinding.
The liquidations targeted leveraged long positions concentrated between $75,000 and $76,500. On-chain data from Coinglass shows a substantial cluster of stop-loss orders executed in this range. Open interest in Bitcoin futures dropped $1.5 billion in the immediate aftermath, signaling aggressive deleveraging that clears overleveraged positioning and sets tighter price discovery.
Market sentiment sits firmly in "Greed," with the Crypto Fear & Greed Index at 72. Spot Bitcoin ETFs continue absorbing supply with net inflows totaling over $1.5 billion in the past week. Whale wallets holding over 1,000 BTC have increased positions by 0.8 percent in the past month—institutional accumulation at scale.
Ethereum rose 6.0 percent to $2,407, while Solana traded at $91.95. Meanwhile, traditional equities retreated: the S&P 500 dropped 0.9 percent and the Nasdaq fell 1.0 percent. The divergence reflects crypto's decoupling from legacy macro headwinds.
Bitcoin faces immediate resistance at $80,000, where significant options volume expires next Friday. A break and hold above that level confirms a new leg up; rejection could see consolidation at $75,000. Funding rates on perpetual futures will signal whether bullish momentum sustains.
