Bitcoin Slides Below $76,000 as Crypto Liquidations Top $1B
Photo: ETHNews
Bitcoin’s decline follows substantial ETF withdrawals and heightened uncertainty after the Binance security breach. Forced long liquidations dominate the derivatives market, while reported open interest remains elevated. Bitcoin has lost a key Fibonacci retracement, with weakening RSI and MACD readings reinforcing the bearish technical outlook. Bitcoin fell below $76,000 on November 5 as another wave of forced liquidations swept through cryptocurrency markets, extending a selloff that has intensified following institutional fund withdrawals and exchange-security concerns. The latest decline pushed Bitcoin through a closely watched Fibonacci retracement on the daily chart, while derivatives data revealed concentrated losses among leveraged bullish traders.
Source: ETHNews
