Bitcoin Teeters Near USD 70,000 as USD 245 Million Liquidation Wave Rocks Crypto Markets

BTCUSD declined below $70000 as broader market liquidation surges. Currently trading at about $69445, it has a high of $69439.

Driven by Bitcoin's erratic swings around the USD 70,000 threshold and rising geopolitical concerns, the cryptocurrency futures market had a massive liquidation event totaling almost USD 227 million to USD 245 million over 24 hours on March 11, 2026. With leveraged traders being wiped out by a 4% intraday BTC price swing and declining exchange reserves, long positions bore the bulk of the volatility—51–82% of the liquidation volume. Leading the liquidations, Bitcoin with up to USD 108 million impacted; Ethereum saw notable activity, including a lone USD 2.4 million long liquidation on OKX; all against a backdrop of increased Open Interest over USD 97 billion, which keeps on exacerbating market cascades across major exchanges like Binance and Bybit.

 Major support- $64000/$60000/$52500/$50000. Minor bullishness only above $74000.

It is good to buy on dips around $67000 with SL around $64000 for a TP of $80000.