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A new analysis from CryptoQuant shows a major Bitcoin long liquidation event erased about $245.3 million when Bitcoin hit $89,700. This event also caused a big drop in open interest. The rapid sell-off led to increased volatility, forcing traders to reassess market conditions as Bitcoin formed a potential new support level. The event shows the dangers of too much leverage in the crypto market.. Long squeezes often lead to cascading liquidations, where forced sell-offs push prices lower, accelerating downward momentum. A long squeeze occurs when long-position holders are forced to sell as prices decline, CryptoQuant’s Amr Taha explained . This starts automatic liquidations, speeding up a fast sell-off. Bitcoin’s fall below $89K resulted in lots of liquidations, removing liquidity from the market. As liquidation engines closed positions, large buy orders from whales and market makers absorbed the selling pressure. According to Taha, this high-volume liquidation usually levels out prices, as institutional investors use the chance to buy assets at lower prices. Also, he added market makers often use these liquidation zones to place limit orders at good prices. Related: Bitcoin Bull Run Cycle? Chart Points to Next Phase for BTC with Price Analysis In the past 24 hours, $226.72 million was liquidated from crypto traders, with $177.52 million coming from long positions. The largest liquidation event happened in a single hour, reaching $657.28K, with short traders making up $630.62K of that amount. This underlines the market’s ongoing volatility. Despite the liquidation, Bitcoin’s open interest (OI) increased slightly by 0.69%, reaching $57.09 billion. This uptick from over $60 billion prior to the liquidation event suggests that traders are still maintaining leveraged positions. Options open interest also saw growth, rising 3.33% to $32.50 billion, indicating continued interest in BTC options contracts. However, Bitcoin’s derivatives trading volume dropped by 18.57% to $125.73 billion, while options volume fell by 7.12% to $4.14 billion. The BTC OI-weighted funding rate remains slightly positive, reflecting a neutral-to-bullish sentiment. Funding rates across major exchanges such as Binance, Bybit, and OKX are currently between 0.0010% and 0.0100%, suggesting that traders still have an optimistic outlook on Bitcoin’s recovery. Moreover, the long/short ratios remain elevated, with Binance at 2.5423 and OKX at 2.91. This indicates that traders continue to bet on upward price movement despite the recent long liquidations. Related: Bitcoin Price Prediction: $90K Break – Dip or Rebound Next? In conclusion, while the rise in open interest indicates traders are keeping leverage, the decline in trading volume signals a possible reduction in speculative activity. If traders keep using too much leverage, the risk of more liquidation waves is still high. As of the latest data, Bitcoin is trading at $88,763, marking a 0.3% decline over the past 24 hours and bringing its weekly loss to 7.1%. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Bitcoin tests key support as traders anticipate the next major move. Doctor Profit highlights an ongoing market structure similar to a past bullish breakout. The price action suggests a potential rally if historical patterns hold. Bitcoin’s price action shows similarities to a past consolidation phase before a breakout. The previous range, between $58,000 and $70,000, saw a prolonged sideways movement before breaking resistance. The trend shift was confirmed by a strong support test that came before the breakout. Bitcoin is currently trading in the $89,000–$110,000 range, which is consistent with previous price trends. The lower boundary is undergoing tests, reflecting a familiar pattern. If Bitcoin follows the previous cycle, a rebound from support could trigger another breakout. Both charts presented by Doctor Profit illustrate structured price zones. The left chart confirms Bitcoin’s ability to consolidate before an upward movement. The right chart, still within its range, hints at a similar setup. A key takeaway is Bitcoin’s cyclical behavior. It consolidates within defined boundaries before breaking higher. The green arrows in both charts mark a bounce from support, reinforcing the importance of these levels. Market participants closely monitor this pattern, expecting a breakout once support holds. Besides historical comparisons, current indicators favor a potential rally. The price remains within the boxed region, suggesting ongoing accumulation. Market sentiment remains cautiously optimistic , with traders watching for confirmation. Additionally, strong buying activity near the lower boundary signals investor confidence. The current phase aligns with previous accumulation stages before major price surges. A breakout above the resistance could validate the pattern and push Bitcoin toward new highs. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

According to SolanaFloor , Oklahoma is moving forward with legislation that would see the state investing in Bitcoin and other digital assets. House Bill 1203 has passed through the Oklahoma State House Committee on a strong 12-2 vote. The bill, otherwise known as the Strategic BTC Reserve bill , allows the state treasury to invest as much as 10% of public money in Bitcoin or digital assets that have a market value of over $500 billion. The bill is now pending a full House of Representatives vote. Rep. Cody Maynard spearheaded this legislative effort, supported by crypto enthusiasts. Oklahoma has also been actively pushing Bitcoin adoption since January 9, 2025, when State Senator Dusty Deevers filed the Bitcoin Freedom Act (SB325). The legislation seeks to make Bitcoin transactions possible between state agencies, businesses, and private transactions. Deevers emphasizes that Bitcoin can be used as an inflation hedge, insulating Oklahomans’ financial security. The state’s commitment to Bitcoin is evident from past legislation. In May 2024, Oklahoma passed the Bitcoin Rights Bill (HB3594), ensuring legal protection for digital asset transactions. Residents are permitted to self-custody their digital assets under this law, which also forbids additional taxes and any state-imposed limitations on the use of Bitcoin. A more favorable climate for cryptocurrency activities is also created by protecting Bitcoin miners from needing a money transmitter license. Deevers considers Bitcoin’s decentralization a protection of money. He aligns with ex-President Donald Trump in his Bitcoin-friendly position, arguing that decentralization would protect against reckless government spending. If Oklahoma passes HB1203, the state could become a financial technology innovation national leader. Meanwhile, Bitcoin is facing critical market movements. Currently, BTC trades at 86,539 USDT, testing a crucial support zone. The 0.618 Fibonacci retracement level at 83,308 USDT presents a key demand area. A bounce from this level could drive prices back to the 92,500 USDT resistance. However, a breakdown could push BTC toward the 66,810 USDT support. The market structure indicates a retracement phase, with increased volatility. Traders are closely watching whether BTC holds above 83,308 USDT. If buying pressure builds, Bitcoin could resume its bullish momentum. Conversely, failure to maintain support may lead to further declines. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Bitcoin $BTC expected to range between $89K–$108K in March Bitcoin fell below $90,000 for the first time since November, now trading at $88,956. Analysts see two possible scenarios: a drop to $77,000 before a rebound or a push toward $130,000. Santiment data shows Bitcoin whales have slowed accumulation, while IntoTheBlock reports a 600% drop in large holders' netflow, signaling increased selling. Ledn CIO John Glover expects BTC to stay range-bound between $89,000 and $108,000 in March, downplaying further impact from Trump’s pro-crypto stance. With Bitcoin’s RSI at 31.16, nearing oversold levels, a rebound to $92,325 is possible if selling pressure eases. Otherwise, BTC could dip to $80,835, BeInCrypto has reported.

Since 2021, Germany has allowed institutional funds to invest up to 20% of their holdings in crypto, marking a significant shift in the country’s financial regulations. According to a CNF update , DekaBank, a leading German asset manager overseeing approximately $395 billion in assets, has officially launched cryptocurrency trading and custody services tailored specifically for institutional clients. This strategic move, which comes after nearly two years of development, underscores a growing institutional acceptance of digital assets within traditional finance. André Dragosch, PhD, European Head of Research at Bitwise, shared a recent tweet highlighting DekaBank’s crypto expansion: DekaBank is entering the buying and selling of cryptocurrencies. DekaBank operates as the asset manager for the German Savings Banks Finance Group (Sparkassen-Finanzgruppe). Service is offered to institutional clients only for the time being. The Frankfurt-based institution has made these services exclusively available to institutional clients, particularly members of the Sparkassen-Finanzgruppe, Germany’s largest financial services conglomerate. By obtaining a crypto custody license from the Federal Financial Supervisory Authority (BaFin) under the German Banking Act, DekaBank ensures full compliance with Germany’s stringent regulatory standards. In a statement to Yahoo Finance, Martin K. Müller, a board member of DekaBank, emphasized the bank’s readiness to support clients in adopting digital assets: We have the necessary experience, required licenses, and a tested, ready-to-use infrastructure to support savings banks and our institutional clients. Securing the BaFin crypto custody license is a significant milestone for DekaBank, authorizing it to legally hold and manage cryptocurrencies on behalf of institutional clients. This achievement reinforces DekaBank’s commitment to operating within regulated frameworks, ensuring investor confidence in its crypto services. Additionally, the bank operates under the supervision of the European Central Bank (ECB), adhering to strict security and financial stability guidelines. DekaBank’s expansion into cryptocurrency services reflects a wider trend in which traditional financial institutionsare integrating digital assets into their offerings. This move is expected to increase institutional participation in crypto markets, leading to higher trading volumes and liquidity. Furthermore, this development aligns with Germany’s broader digital finance agenda , as the country’s central bank continues to push for a digital euro while maintaining a cautious stance on Bitcoin, comparing it to the ‘Digital Tulip’ bubble. At the time of writing, the cryptocurrency market remains volatile. Bitcoin (BTC) is currently trading at $92,501, reflecting a 3.84% decrease in the past day and a 3.59% decline over the past week.