Bitcoin Hits $76,877 As Liquidations Surge

Bitcoin could not maintain the $80,000 threshold after rebounding to $81,455 on August 28. Then, its price fell to $76,877 before a slight rise. This rejection occurs while many sell orders remain visible between $80,800 and $83,000. Their presence can slow a recovery, however, it does not justify either the identity of their holders or their real intention to sell.

In brief

Multiple liquidity zones now frame bitcoin

On the evening of August 27, BTC reached $81,000, before surrendering all its gains. First, it dropped below $79,300, then the correction intensified after Kevin Warsh’s speech at Jackson Hole.

CryptoReviewing publishes an analysis noting a significant concentration of orders and liquidation levels around the prices. The configuration reveals four main zones :

• Large sell orders between $80,800 and $83,000 ;
• Buy orders concentrated between $78,000 and $79,000 ;
• Nearly $5.7 billion of estimated liquidity between $75,000 and $78,500 ;
• Around $2.8 billion between $81,500 and $84,000.