Crypto Market Faces $900M Liquidations as Bitcoin (BTC) Retreats to $110K – Key Support Levels Tested
Crypto Market Faces $900M Liquidations Amid BTC Retreat The cryptocurrency market witnessed massive turbulence this week as Bitcoin (BTC) plunged to a seven-week low of $110,000, triggering more than $900 million in leveraged liquidations across major exchanges. The sell-off erased nearly 2% from the total market cap, while the GMCI 30 Index fell 3%, reflecting heightened market fragility. Bitcoin & Ethereum Volatility Spikes Daily BTC volatility jumped from 15% to 38%, marking one of the sharpest short-term swings in months. Ethereum (ETH) followed closely, with volatility soaring from 41% to 70%, reflecting stronger pressure on altcoins. Options markets showed the strongest demand for downside protection in two weeks, as 25-delta skew turned negative for both BTC and ETH. This shift signals traders’ increasing appetite for hedges against further downside moves. --- Critical Technical Levels for BTC Analysts warn that Bitcoin could retest the psychological $100,000 support...