What to know : Bitcoin fell below $69,000 on Thursday morning in the U.S., extending a week-long sell-off that has mirrored broader weakness in global risk assets. More than $1 billion in crypto positions were liquidated over the past 24 hours, including about $980 million in bullish leveraged bets forced to close as prices dropped. Liquidity data show $70,000 as a key mechanical level for bitcoin, with a clean break below it risking a faster slide toward the high-$60,000 range amid thinner support and clustered liquidation points.
Bitcoin slid under the $69,000 level in U.S. morning hours Thursday, extending a week-long selloff that has tracked weakness across global risk assets and deepened concerns about near-term downside.
Crypto liquidations crossed $1 billion over the past 24 hours, wiping out about $980 million million in bullish leveraged bets as the slide forced traders to close positions they could not keep funded.
Price fel lunder $70,000 earlier in the day, with liquidity heatmaps pointing to further downside.
Liquidity thins out quickly until just under $70,000, per Coinglass data, where another smaller cluster appears. That makes $70,000 a mechanically important level. If price pushes cleanly through it, there’s less forced buying from liquidations to slow the move, raising the risk of a faster flush toward the high $60,000s.
A liquidation heatmap is a map of where leveraged traders are most likely to get forced out. Bright bands mark price levels with lots of estimated liquidation points, which can act like short term magnets for price moves. Traders use it to spot crowded zones and likely volatility pockets, not exact turning points.
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