Bitcoin triggered a sharp liquidity-driven sell-off over the weekend, sending prices close to $75,000 for the first time since the April 2025 low. Thin weekend trading conditions amplified volatility, accelerating a wave of forced liquidations across the crypto market.
During weekend trading, Bitcoin fell more than 7%, wiping out roughly $800 million in leveraged positions. The broader liquidation event across digital assets was estimated at nearly $2 billion, underscoring the severity of the move.
Bitcoin breaks below key support levels
Data from TradingView showed BTC/USD slipping below the $80,000 mark, a level that had held since April 2025. The breakdown marked a significant technical failure as buyers were unable to defend key support.
At the time of writing, Bitcoin was trading below $78,000, with the April 2025 low near $74,500 now emerging as the next major downside level.
Low liquidity over the weekend worsened price swings, catching traders off guard after an already difficult week for risk assets.
Keith Alan, cofounder of Material Indicators, said on X that the local support zone near $80,500 had been decisively broken, opening the door to further downside.
Bitcoin loses its true market mean
Analysts also flagged a more concerning structural signal. According to On-Chain College, Bitcoin has fallen below its true market mean, which represents the aggregate cost basis of the active BTC supply.
Bitcoin is now trading below the true market mean of roughly $80,700 for the first time since October 2023, when prices were near $29,000. The analyst warned that this development weakens Bitcoin’s short- to medium-term outlook.
Additional downside levels highlighted by Keith Alan include the previous bull market peak from November 2021, located near $69,000.
Earlier reports from Cointelegraph had already identified the $76,000 area as a key downside target, as Bitcoin struggled to attract buyers even while equities and precious metals hit record highs.
Strategy’s Bitcoin holdings fall into the red
Another closely watched threshold was breached as prices slipped below the corporate cost basis of Strategy, the largest corporate holder of Bitcoin.
Strategy’s average acquisition price sits near $76,037, meaning the company’s Bitcoin treasury moved into unrealized losses as BTC dipped below that level.
The firm currently holds more than 700,000 BTC. Its stock trades near $143, down almost 70% from its July peak of $455 last year, highlighting growing pressure on Bitcoin-exposed equities during the sell-off.
