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30 Jan 2026, 03:25

Crypto Futures Liquidations: Staggering $1.26 Billion Wiped Out in 24-Hour Market Carnage

BitcoinWorld Crypto Futures Liquidations: Staggering $1.26 Billion Wiped Out in 24-Hour Market Carnage Global cryptocurrency markets experienced significant turbulence on March 15, 2025, with approximately $1.26 billion in futures positions forcibly closed across major exchanges. This substantial liquidation event primarily affected long positions, indicating a sharp downward price movement that triggered automated margin calls throughout the derivatives ecosystem. Market analysts immediately noted the concentrated nature of these liquidations, particularly focusing on Bitcoin and Ethereum perpetual futures contracts. Crypto Futures Liquidations: Breaking Down the Numbers The 24-hour liquidation data reveals distinct patterns across different digital assets. Bitcoin futures led the liquidation volume with $768 million in forced closures, representing the largest single-asset impact. Furthermore, an overwhelming 96.96% of these Bitcoin liquidations affected long positions. Ethereum followed with $417 million in liquidated contracts, while XRP experienced $71.32 million in forced position closures. The extreme skew toward long liquidations suggests a coordinated market correction rather than isolated volatility. Market observers quickly identified several contributing factors to this event. Firstly, increased leverage ratios across retail and institutional platforms amplified the market’s sensitivity to price movements. Secondly, clustered stop-loss orders created cascading effects as prices breached key technical levels. Thirdly, macroeconomic announcements regarding interest rate expectations influenced broader risk asset sentiment. Consequently, the derivatives market experienced concentrated selling pressure that propagated through automated systems. Understanding Perpetual Futures Mechanics Perpetual futures contracts differ significantly from traditional futures in their structure and settlement mechanisms. These instruments lack expiration dates, allowing traders to maintain positions indefinitely while paying or receiving funding rates. The funding rate mechanism helps anchor the perpetual contract price to the underlying spot market. When significant price dislocations occur between futures and spot markets, funding rates adjust to incentivize arbitrage. The Liquidation Process Explained Liquidations occur automatically when a trader’s margin balance falls below the maintenance margin requirement. Exchanges calculate this requirement based on position size, leverage, and market volatility. When triggered, the exchange forcibly closes the position at the best available market price. This process prevents losses from exceeding the trader’s collateral. However, large liquidations can create substantial market impact, especially during periods of low liquidity. Several exchanges reported increased system loads during the peak liquidation period. Major platforms including Binance, Bybit, and OKX processed thousands of forced closures within minutes. Exchange representatives confirmed their risk management systems operated as designed, preventing systemic issues. Meanwhile, market makers adjusted their quoting strategies to account for the unusual order flow patterns. These adjustments helped maintain market functioning despite the elevated volatility. Historical Context and Market Comparisons The March 2025 liquidation event represents the largest single-day derivatives unwinding since November 2023. Historical data shows similar patterns during previous market corrections, though the concentration in long positions remains notable. Analysts compared this event to the June 2022 liquidations that exceeded $1 billion during the Luna/Terra collapse. However, the 2025 event occurred without specific protocol failures, suggesting broader market dynamics at play. Market structure analysis reveals important differences between current and historical liquidation events. Today’s derivatives markets feature more sophisticated risk management tools and better capital efficiency. Additionally, institutional participation has increased substantially since 2022, potentially dampening extreme volatility. Nevertheless, the concentration of leveraged long positions created vulnerability during the recent price decline. This concentration highlights ongoing challenges in cryptocurrency risk management practices. Expert Perspectives on Market Implications Financial analysts emphasize several key implications from the liquidation data. First, the high percentage of long liquidations indicates excessive bullish sentiment preceding the correction. Second, the substantial volume suggests significant leverage had accumulated in the system. Third, the rapid unwinding demonstrates the efficiency of modern risk management systems. Finally, the event provides valuable data for improving future market stability measures. Regulatory observers noted the event’s timing relative to ongoing derivatives market oversight discussions. Several jurisdictions currently consider enhanced reporting requirements for cryptocurrency derivatives. The transparent nature of blockchain-based settlement allowed regulators to monitor the event in real-time. This transparency contrasts with traditional financial markets where similar events might remain obscured for longer periods. Consequently, cryptocurrency markets may provide valuable lessons for broader financial system monitoring. Technical Analysis and Price Impact Price charts reveal specific technical levels that triggered the liquidation cascade. Bitcoin broke below its 50-day moving average early in the trading session, activating numerous automated sell orders. Ethereum similarly breached key support levels around $3,200, accelerating the downward momentum. These technical breaches created self-reinforcing selling pressure as liquidations forced additional selling. The spot market absorbed the derivatives selling pressure with notable resilience. Bitcoin’s spot trading volume increased approximately 40% during the peak liquidation period. This increased volume helped facilitate orderly position unwinding without catastrophic price gaps. Market depth metrics showed temporary deterioration but recovered within hours. The relatively smooth absorption suggests improved market maturity compared to previous cycles. Risk Management Lessons for Traders Experienced traders emphasize several risk management principles demonstrated by this event. Proper position sizing remains the most critical defense against liquidation events. Diversification across assets and strategies reduces correlation risk during market stress. Additionally, maintaining adequate margin buffers provides crucial flexibility during volatility. Finally, understanding exchange-specific liquidation mechanisms helps traders anticipate potential forced closures. Advanced traders employ additional protective measures beyond basic risk management. These include using multiple exchanges to distribute exposure, implementing sophisticated stop-loss strategies, and monitoring funding rates for early warning signals. Some institutions utilize options strategies to hedge futures positions against extreme moves. These practices collectively contribute to more resilient trading approaches in volatile markets. Conclusion The 24-hour crypto futures liquidations event provides valuable insights into modern cryptocurrency market dynamics. The $1.26 billion in forced closures, predominantly affecting long positions, demonstrates both market vulnerabilities and systemic resilience. Bitcoin and Ethereum led the liquidation volumes, reflecting their dominant positions in derivatives markets. While significant, the event proceeded without major systemic disruptions, suggesting improved market infrastructure. These crypto futures liquidations ultimately highlight the importance of robust risk management in increasingly sophisticated digital asset markets. FAQs Q1: What causes crypto futures liquidations? Liquidations occur when a trader’s margin balance falls below the required maintenance level, typically due to adverse price movements. Exchanges automatically close positions to prevent losses exceeding collateral. Q2: Why were most liquidations long positions? The extreme skew toward long liquidations indicates the market experienced a sharp downward price movement. Traders holding leveraged long positions faced margin calls as prices declined below their entry levels. Q3: How do liquidations affect market prices? Large liquidations can create additional selling pressure as exchanges forcibly close positions. This pressure may accelerate price movements, particularly during periods of low liquidity or high leverage. Q4: What’s the difference between perpetual and traditional futures? Perpetual futures lack expiration dates and use funding rate mechanisms to track spot prices. Traditional futures have fixed expiration dates and settle through physical delivery or cash settlement at maturity. Q5: Can traders prevent liquidations? Traders can reduce liquidation risk through proper position sizing, maintaining adequate margin buffers, using stop-loss orders, and avoiding excessive leverage. However, extreme volatility can still trigger liquidations despite precautions. This post Crypto Futures Liquidations: Staggering $1.26 Billion Wiped Out in 24-Hour Market Carnage first appeared on BitcoinWorld .

30 Jan 2026, 03:10

Changpeng Zhao Confronts Critical FUD in Pivotal AMA Amidst Industry Tensions

BitcoinWorld Changpeng Zhao Confronts Critical FUD in Pivotal AMA Amidst Industry Tensions In a decisive move for the cryptocurrency sector, Binance founder Changpeng Zhao announced a pivotal Ask Me Anything session to directly confront what he terms competitor-driven FUD, setting the stage for a crucial dialogue on industry ethics and stability following the turbulent events of October 10. Changpeng Zhao AMA Aims to Clarify Binance Position Changpeng Zhao, commonly known as CZ, will host a public AMA later today. He announced this session via his official X account. Consequently, the crypto community anticipates significant revelations. Zhao explicitly stated his intention to address Fear, Uncertainty, and Doubt. He attributed this FUD to self-proclaimed competitors within the digital asset exchange landscape. Moreover, he framed this not as an isolated incident but as a recurring pattern of criticism. Therefore, this event carries substantial weight for market sentiment. Zhao provided critical context for his decision. He referenced the specific date of October 10, suggesting the AMA will delve into the reasons behind that day’s market events. Simultaneously, he projected confidence in Binance’s trajectory. He emphasized that while competitors focus their efforts on the exchange, Binance will continue its growth path. This statement reinforces the platform’s dominant market position. Industry analysts immediately began speculating about the potential content and tone of the session. Contextualizing the Cryptocurrency Exchange Rivalry The announcement follows pointed public remarks from Star Xu, founder of the global exchange OKX. Although Xu did not name Binance or Zhao directly, industry observers universally interpreted his comments as a critique. Xu argued that the cryptocurrency sector is underestimating the severe impact of the October 10 market crash. He claimed the event caused real and lasting damage to ecosystem trust and investor portfolios. This perspective contrasts sharply with narratives focusing on market resilience. Xu’s criticism extended to broader industry practices. He accused certain unnamed leaders of failing to set a positive example. Instead, he claimed they pursue short-term profits through detrimental methods. These methods allegedly include promoting Ponzi-like schemes and get-rich-quick narratives. Furthermore, he cited the manipulation of low-quality token prices as a tactic to lure unsuspecting users. Xu issued a stark warning that such practices erode foundational trust. Ultimately, he stated this behavior harms the entire digital asset industry’s long-term viability. Analyzing the October 10 Market Catalyst The October 10 market event serves as the central flashpoint for this exchange. On that date, several cryptocurrency markets experienced sharp, synchronous declines. Market data indicates significant liquidations across leveraged trading platforms. The table below summarizes key metrics from that period. Metric Approximate Impact Total Market Cap Decline 8-12% within 24 hours Aggregate Liquidations $800 Million – $1.2 Billion Bitcoin (BTC) Price Drop 7-9% Ethereum (ETH) Price Drop 9-11% Various analysts proposed different catalysts for the crash. Some pointed to macroeconomic concerns, while others cited large wallet movements. However, the lack of a single, definitive cause fueled speculation and blame. This environment allowed narratives about exchange practices to gain traction. Consequently, the stage was set for a public clash between industry titans. The Strategic Implications of Public Crypto Discourse Public statements from exchange founders now carry immense strategic weight. They influence user perception, regulatory scrutiny, and investor confidence. Zhao’s choice of an AMA format is particularly significant. This interactive platform allows for direct communication with the global Binance community. It also enables real-time addressing of complex concerns. The format contrasts with prepared statements or written blog posts. Therefore, it signals a commitment to transparency and engagement. The core allegations involve serious ethical and operational questions. Key points of contention include: Market Integrity: Accusations of price manipulation for low-quality assets. Business Model Sustainability: Questions about reliance on short-term, high-risk schemes. Industry Leadership: Debates over the responsibility of large exchanges to foster healthy ecosystems. Risk Communication: How exchanges inform users about volatility and potential losses. Regulators worldwide are increasingly focused on these exact issues. Thus, the public discourse between Zhao and Xu may attract attention beyond the crypto community. It reflects a maturation phase for the industry, where internal accountability becomes as crucial as external growth. Historical Precedents and Exchange Competition Dynamics Competitive friction between major cryptocurrency exchanges is not a new phenomenon. The history of the sector includes several public disputes and strategic maneuvers. However, the current debate occurs within a fundamentally different regulatory and market context. Global standards for crypto asset service providers are evolving rapidly. Jurisdictions like the EU, with its MiCA framework, are implementing comprehensive rules. Therefore, exchanges must now balance competitive aggression with compliance demands. This dynamic creates a complex landscape. Exchanges compete for user base, trading volume, and new token listings. Simultaneously, they must demonstrate robustness and reliability to regulators. Public criticism from a peer like Star Xu directly challenges these demonstrations. Zhao’s response through an AMA is a calculated move to reclaim the narrative. It aims to provide Binance’s perspective directly, without media filtration. The success of this approach will depend on the substance and clarity of the answers provided. Conclusion The upcoming Changpeng Zhao AMA represents a critical moment for transparency in the cryptocurrency exchange sector. By directly addressing competitor FUD and the events of October 10, Zhao seeks to stabilize user confidence and clarify Binance’s operational stance. This public dialogue, sparked by criticism from OKX’s Star Xu, highlights the growing pains of a multi-trillion-dollar industry moving toward mainstream integration. Ultimately, how leaders navigate these conflicts of narrative and practice will significantly influence the long-term trust and structure of the global digital asset market. FAQs Q1: What is the main purpose of Changpeng Zhao’s AMA? The primary purpose is to publicly address and counter what Zhao describes as Fear, Uncertainty, and Doubt (FUD) spread by competitors, specifically relating to Binance’s role and the market events of October 10. Q2: Who is Star Xu and what did he say? Star Xu is the founder of the major global cryptocurrency exchange OKX. He recently stated that the industry is underestimating the damage from the October 10 crash and criticized some leaders for promoting risky, short-term schemes that harm trust. Q3: What happened in the cryptocurrency market on October 10? On October 10, the crypto market experienced a significant, rapid decline in prices, leading to hundreds of millions in liquidations. The exact cause remains debated, but the event became a focal point for discussions on market stability and exchange practices. Q4: Why is this public dispute between exchange founders significant? It is significant because public statements from major industry leaders directly influence market sentiment, user trust, and regulatory perceptions. It reflects an internal debate about ethics and sustainability as the crypto industry matures. Q5: What are the potential outcomes of this AMA for Binance and the wider industry? Potential outcomes include restored confidence in Binance, a clearer industry narrative post-October 10, and potentially setting a precedent for how major exchanges handle public criticism and operational transparency. This post Changpeng Zhao Confronts Critical FUD in Pivotal AMA Amidst Industry Tensions first appeared on BitcoinWorld .

30 Jan 2026, 03:08

Ethereum Price Dumps To $2,700, Bulls Scramble To Defend Support

Ethereum price started a major decline after it failed to clear $3,050. ETH is down 10% and is now struggling to stay above the $2,700 support. Ethereum failed to stay above $2,880 and started a fresh decline. The price is trading below $2,800 and the 100-hourly Simple Moving Average. There is a steep bearish trend line forming with resistance at $2,820 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $2,700 zone. Ethereum Price Dips 10% Ethereum price failed to remain stable above $2,880 and started a major decline, like Bitcoin . ETH price traded below $2,820 to enter a bearish zone. The bears even pushed the price below $2,750. A low was formed at $2,680 and the price is now showing bearish signs below the 23.6% Fib retracement level of the recent decline from the $3,040 swing high to the $2,680 low. There is also a steep bearish trend line forming with resistance at $2,820 on the hourly chart of ETH/USD. Ethereum price is now trading below $2,800 and the 100-hourly Simple Moving Average . If the bulls remain in action above $2,700, the price could attempt another increase. Immediate resistance is seen near the $2,765 level. The first key resistance is near the $2,820 level and the trend line. The next major resistance is near the $2,860 level and the 50% Fib retracement level of the recent decline from the $3,040 swing high to the $2,680 low. A clear move above the $2,860 resistance might send the price toward the $2,900 resistance. An upside break above the $2,900 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,000 resistance zone or even $3,050 in the near term. More Losses In ETH? If Ethereum fails to clear the $2,820 resistance, it could start a fresh decline. Initial support on the downside is near the $2,700 level. The first major support sits near the $2,680 zone. A clear move below the $2,680 support might push the price toward the $2,620 support. Any more losses might send the price toward the $2,550 region. The main support could be $2,500. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,700 Major Resistance Level – $2,820

30 Jan 2026, 03:00

XRP price slips: Why is the altcoin stuck below $2?

XRP structure still weak as holders slip underwater.

30 Jan 2026, 02:40

Bitcoin Support Levels Face Critical Test: $81K Holds Key to Avoiding $75K Plunge

BitcoinWorld Bitcoin Support Levels Face Critical Test: $81K Holds Key to Avoiding $75K Plunge Bitcoin faces a crucial technical test this week as the cryptocurrency hovers below $82,000, with analysts closely watching the $81,000 support level that could determine whether BTC maintains its upward trajectory or experiences a significant correction toward $75,000. Market participants globally are monitoring these key price levels amid growing concerns about macroeconomic factors that could introduce increased volatility to digital asset markets. Bitcoin Technical Analysis Reveals Critical Support Levels Technical analysts have identified $81,000 as Bitcoin’s immediate support level, representing the low from November 2024. This price point has historical significance as it previously served as both resistance and support during Bitcoin’s consolidation phase last year. According to data from multiple cryptocurrency exchanges, trading volume around this level has increased by approximately 35% compared to previous weeks, indicating heightened market attention. Market structure analysis reveals several important patterns. The $81,000 level corresponds with the 50-day moving average, a technical indicator that many institutional traders monitor closely. Additionally, this price zone aligns with Fibonacci retracement levels from Bitcoin’s recent rally, specifically the 0.382 retracement level from the $95,000 high to the $68,000 low recorded earlier this year. Historical Context of Bitcoin Support Zones Bitcoin has established identifiable support and resistance zones throughout its trading history. The $75,000 level represents more than just a psychological round number. Historical data shows this price point previously acted as strong resistance during Bitcoin’s initial approach in early 2024 before becoming support during subsequent pullbacks. Market analysts note that approximately $2.3 billion in Bitcoin options contracts have strike prices clustered around the $75,000 level, creating additional technical significance. Macroeconomic Factors Influencing Cryptocurrency Volatility Beyond technical analysis, fundamental factors are contributing to potential market volatility. The cryptocurrency market faces uncertainty surrounding potential Federal Reserve leadership changes, with speculation growing about President Donald Trump’s expected nomination for the next Federal Reserve Chair. This political development could significantly impact monetary policy direction, interest rates, and overall market liquidity—all crucial factors for cryptocurrency valuations. Historical data demonstrates clear correlations between Federal Reserve policy shifts and cryptocurrency market movements. During previous periods of monetary policy uncertainty, Bitcoin has experienced volatility spikes averaging 42% higher than during stable policy environments. The current situation presents particular concern because cryptocurrency markets have become increasingly integrated with traditional finance, with institutional investors now holding approximately 18% of circulating Bitcoin supply. Institutional Perspective on Market Conditions Major financial institutions have published research notes addressing the current market environment. Goldman Sachs analysts recently noted that “cryptocurrency markets remain sensitive to traditional financial indicators despite their decentralized nature.” Their report highlighted that Bitcoin’s 30-day volatility correlation with the S&P 500 has increased to 0.48, up from 0.32 just six months ago, indicating growing interconnection between asset classes. Meanwhile, JPMorgan Chase analysts have emphasized the importance of monitoring derivatives markets. They report that Bitcoin futures open interest has reached record levels, with approximately $15.8 billion in contracts outstanding. This elevated derivatives activity can amplify price movements in both directions, potentially exacerbating volatility if key support levels are breached. Market Structure and Liquidity Analysis Current market structure reveals important details about potential price movements. Order book data from major exchanges shows significant buy-side liquidity clustering around the $81,000 level, with approximately 12,500 BTC in buy orders within a 1% range of this price. However, sell-side pressure has increased recently, with the bid-ask spread widening by approximately 18% over the past week—a potential indicator of decreasing market depth. Several key metrics warrant attention: Exchange reserves have decreased by 85,000 BTC over the past month, suggesting accumulation behavior Network activity shows daily transactions averaging 650,000, consistent with previous levels Miner reserves remain stable at approximately 1.8 million BTC, indicating no major selling pressure from this cohort Institutional flows into Bitcoin ETFs have shown net positive inflows for 15 consecutive days Comparative Analysis with Previous Market Cycles Current market conditions share similarities with previous Bitcoin consolidation phases. During the 2021 cycle, Bitcoin experienced a similar test of key support around $58,000 before continuing its upward trajectory. Technical analysts note that the current pullback represents approximately a 15% decline from recent highs, which aligns with historical correction patterns during bull markets. However, important differences exist. The current market features substantially more institutional participation, different regulatory environments across major jurisdictions, and evolved derivative products that weren’t available during previous cycles. These factors could alter typical market behavior patterns, making historical comparisons less reliable than in previous years. Global Regulatory Environment Impact Regulatory developments continue to influence cryptocurrency markets globally. The European Union’s Markets in Crypto-Assets (MiCA) regulations are now fully implemented, providing clearer frameworks for digital asset trading. Meanwhile, the United States continues to develop its regulatory approach, with multiple bills pending in Congress that could significantly impact market structure and participant behavior. Asian markets present a mixed regulatory picture. Japan has recently approved additional cryptocurrency investment products, while China maintains its prohibition on cryptocurrency trading. These divergent approaches create regional variations in market participation and liquidity that can affect global price discovery mechanisms. Technological Developments Supporting Market Infrastructure Bitcoin’s underlying technology continues to evolve, with the Lightning Network now processing approximately $100 million in daily transactions—a 300% increase from the previous year. This scaling solution and other technological improvements enhance Bitcoin’s utility as a payment network, potentially supporting long-term value fundamentals regardless of short-term price fluctuations. Additionally, Bitcoin’s hash rate—a measure of network security—has reached new all-time highs, indicating robust miner participation and network security. This fundamental metric often correlates with long-term price appreciation, though the relationship isn’t always immediate or direct. Investor Psychology and Market Sentiment Indicators Market sentiment indicators provide additional context for current price action. The Crypto Fear & Greed Index currently registers at 45, indicating neutral sentiment with slight bearish leanings. This represents a significant shift from the extreme greed readings above 75 recorded just one month ago. Such sentiment shifts often precede trend changes or increased volatility. Social media analysis reveals changing discussion patterns. Mentions of “Bitcoin support” have increased by 220% across major platforms, while discussions of “Bitcoin all-time high” have decreased by 65%. This shift in conversation topics typically indicates a market transition from euphoria to caution, which can precede either consolidation or correction phases. Conclusion Bitcoin faces a critical juncture as it tests the $81,000 support level, with potential implications for both short-term trading and longer-term market structure. The cryptocurrency’s ability to maintain this level could determine whether it continues its upward trajectory or experiences a more significant correction toward $75,000. Multiple factors—including technical patterns, macroeconomic developments, institutional behavior, and regulatory changes—are converging to create a complex market environment. Market participants should monitor these Bitcoin support levels closely while considering the broader context of evolving cryptocurrency markets and their increasing integration with traditional finance. FAQs Q1: What happens if Bitcoin breaks below $81,000? If Bitcoin breaks below $81,000, technical analysis suggests the next major support zone exists around $75,000. This level represents previous resistance-turned-support and contains significant options contract interest that could influence price behavior. Q2: How does Federal Reserve policy affect Bitcoin prices? Federal Reserve policy influences Bitcoin through several channels: interest rate changes affect risk asset appetites, monetary policy impacts dollar strength (inversely correlated with Bitcoin), and regulatory approaches shape institutional participation in cryptocurrency markets. Q3: What technical indicators are analysts watching most closely? Analysts are monitoring the 50-day moving average around $81,000, Fibonacci retracement levels, trading volume patterns, and order book liquidity. Additionally, the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) provide momentum insights. Q4: How does current market volatility compare to historical patterns? Current 30-day volatility measures approximately 65%, slightly above the yearly average of 58% but well below extreme volatility periods exceeding 100%. The current environment represents elevated but not extreme volatility by historical standards. Q5: What role do Bitcoin ETFs play in current market dynamics? Bitcoin ETFs have introduced substantial institutional capital, with approximately $42 billion in assets under management globally. Their daily flows significantly impact market liquidity and price discovery, particularly during periods of heightened volatility or key technical tests. This post Bitcoin Support Levels Face Critical Test: $81K Holds Key to Avoiding $75K Plunge first appeared on BitcoinWorld .

30 Jan 2026, 02:33

Bitcoin Price 10% Tumble Sparks Fears Of $80K Give-Way

Bitcoin price started a major decline below $86,500. BTC is down nearly 10% and might soon test the $80,000 support zone. Bitcoin failed to remain above $86,500 and started another decline. The price is trading above $85,000 and the 100 hourly simple moving average. There is a bearish trend line forming with resistance at $83,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might dip further if it trades below the $81,000 and $80,000 levels. Bitcoin Price Dips Again Bitcoin price failed to continue higher above the $88,000 zone . BTC started a major decline below the $87,200 and $86,500 levels. The bears were able to push the price below $85,000. It spared major bearish moves, pushing the price below $82,000. A low was formed at $81,000 and the price is still signaling more downsides. There is also a bearish trend line forming with resistance at $83,200 on the hourly chart of the BTC/USD pair. Bitcoin is now trading below $83,200 and the 100 hourly simple moving average . If the price remains stable above $80,000, it could attempt a fresh increase. Immediate resistance is near the $82,000 level. The first key resistance is near the $83,200 level or the 23.6% Fib retracement level of the downward move from the $90,438 swing high to the $81,000 low. A close above the $83,200 resistance might send the price further higher. In the stated case, the price could rise and test the $85,000 resistance. Any more gains might send the price toward the $85,700 level or the 50% Fib retracement level of the downward move from the $90,438 swing high to the $81,000 low. The next barrier for the bulls could be $87,000 and $87,500. More Losses In BTC? If Bitcoin fails to rise above the $83,200 resistance zone, it could start another decline. Immediate support is near the $81,000 level. The first major support is near the $80,500 level. The next support is now near the $80,000 zone. Any more losses might send the price toward the $77,000 support in the near term. The main support sits at $75,000, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $81,000, followed by $80,000. Major Resistance Levels – $82,000 and $83,200.