Bitcoin enters make or break zone after liquidation flush – What does this mean for you?
Bitcoin (BTC) dropped to $65.5K on March 27, triggering significant long liquidations totaling $172 million in BTC and nearly $400 million across the crypto market. Analysis indicates a long squeeze occurred as Open Interest rose while price and CVD fell. The 30-day liquidation map suggests further downside risk toward $64K. On-chain metrics show accumulation continues despite distribution pressure, placing Bitcoin in a transitional state. Long-term holders (LTHs) have been net buyers since January 2026, yet the LTH Spent Output Profit Ratio (SOPR) fell below 1 in late February, indicating some are selling at a loss. This selling appears localized rather than broad capitulation. Market sentiment remains pessimistic. A shift to net selling by LTHs would signal full distribution, while a SOPR recovery above 1 could indicate reduced selling pressure.
ambcrypto03/28 08:11
