- Bitcoin (BTC) plunged over 7% during weekend trading, liquidating approximately $800 million in positions.
- The price collapse pushed BTC below its key true market mean level of $80,700 for the first time since October 2023.
- The holdings of Strategy, which owns over 700,000 BTC, fell into the red versus its aggregate cost basis of $76,037.
Bitcoin experienced a sudden and severe liquidity cascade over the weekend, driving its price toward $75,000 for the first time since its April 2025 low. Data from TradingView showed BTC/USD dropping below $80,000, erasing a critical support level. Consequently, the sell-off accelerated in low-liquidity conditions, putting the April 2025 bottom near $74,500 in focus.
Analyst Keith Alan noted the “Local Low at $80.5k was annihilated” in a reaction on X. Meanwhile, On-Chain College highlighted that Bitcoin fell below its true market mean, signaling potential trouble for short-term price action. Alan also identified the November 2021 bull market peak of $69,000 as a notable downside level to watch.
The downturn pushed the massive Bitcoin treasury of corporate holder Strategy into negative territory versus its cost basis. The company’s stock price has tumbled nearly 70% from its July 2024 high of $455, according to its MicroStrategy” rel=”noopener nofollow” target=”_blank”>stock price data. This event underscores the broad market pressure as Bitcoin fails to rally alongside record highs in traditional assets.
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