Crypto Liquidations Steal the Show as Bitcoin Remains Trapped Below $70,000
Bitcoin’s price is locked in a narrow band, while daily crypto‑market liquidations have surged past $200 million, underscoring a pronounced bearish mood across the sector.
1. Bitcoin’s price action: a tightening range
Over the past week the flagship digital asset has been confined to a tight corridor, hovering between roughly $65,600 and the $70,000 ceiling. The one‑hour chart on TradingView shows the lows barely breaking the $65,600 mark, while the highs repeatedly bump up against the $70,000 level.
A modest improvement in U.S. jobless claims ahead of the Wall Street opening failed to lift sentiment. Traders are now looking for a decisive move—either a bounce that can sustain a break above $70,000 or a test of lower support around $64,000‑$66,000.
2. Liquidations explode despite limited price swings
Even though Bitcoin’s price has been relatively static, the market’s stress is evident in the volume of forced positions. Data from CoinGlass indicates that cross‑crypto liquidations have topped $210 million in the last 24 hours, with more than $200 million attributed to BTC‑related contracts alone.
Two distinct liquidity pockets are drawing particular attention:
| Price Zone | Approx. Liquidations (24h) | Market Implication |
|---|---|---|
| $68,000‑$71,000 | Roughly three times the volume seen in the $64,000‑$66,000 band | A “high‑probability” target for future price visits; bulls will need to absorb this pressure quickly. |
| $64,000‑$66,000 | Substantial but comparatively lower | Still a significant defensive layer that has held as support over the past fortnight. |
Analyst Michaël van de Poppe (X) highlighted the pattern of “lower highs” on the four‑hour chart, interpreting it as a sign that a larger correction could be looming. Meanwhile, the pseudonymous co‑founder of Wealth Capital warned that the concentration of liquidations above $68,000 could act as a catalyst for a sharp move downward if buying pressure does not materialise.
3. Institutional sentiment hits “extreme” bearish levels
The bearish tilt is not limited to leveraged traders. The Kobeissi Letter, a newsletter that tracks institutional crypto flows, reported a fourth consecutive week of net outflows from crypto funds, totalling $173 million last week and pushing the four‑week cumulative drawdown to $3.74 billion. Bitcoin accounted for $133 million of those outflows, while Ethereum contributed $85 million.
These withdrawals signal that a sizable portion of the institutional capital base is retreating from crypto exposure. The same newsletter flagged the U.S. spot Bitcoin ETFs as one of the segments under persistent pressure, suggesting that the broader “institutional sector” is reassessing its risk appetite amid the current market environment.
4. Analyst outlook and potential scenarios
- Continued range‑bound trading: If buying pressure remains muted, Bitcoin is likely to oscillate within the $65k‑$70k band, with each bounce potentially triggering additional liquidations in the upper zone.
- Break below $66,000: A decisive move into the $64k‑$66k area could unlock the latent liquidity there, forcing a short‑cover rally or further downside depending on order‑flow dynamics.
- Bullish breakout: A sustained breach above $70,000 would need to absorb the roughly three‑fold higher liquidation pool positioned just above that level. Failure to do so could result in a rapid re‑pullback.
Trader Daan Crypto Trades described the current $66k support as “nothing major,” noting that the price has respected it for two weeks. However, he cautioned that a clear directional signal is required before traders can gauge the strength of the underlying order book.
5. Key takeaways
- Liquidity concentration: The $68k‑$71k price window holds significantly more pending liquidations than the lower band, making it a potential trigger point for future price action.
- Bearish sentiment deepens: Institutional outflows and the fourth straight week of net fund withdrawals highlight a shift toward risk‑averse positioning.
- Price range persists: Bitcoin remains stuck below the $70,000 psychological barrier, with limited volatility despite high liquidation volumes.
- Potential flash points: A break below $66,000 could unleash liquidity that fuels a short‑cover rally, whereas a decisive move above $70,000 must immediately absorb upward pressure from the dense liquidation cluster.
The information presented reflects the current market environment as of 19 February 2026 and does not constitute investment advice. Traders should conduct their own due diligence and consider the inherent risks associated with leveraged and spot crypto positions.
Source: https://cointelegraph.com/news/bitcoin-price-forecast-sees-new-breakdown-as-crypto-liquidates-200m?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
