Bitcoin trades near $77,700 as analysts eye $75,000 support after liquidation wave

Open interest held steady and funding stayed subdued during the recent liquidation wave, suggesting traders were de-risking rather than capitulating, according to HashKey Research's Tim Sun. What to know : Bitcoin hovered around $77,700 after a brief drop below $77,000, with derivatives data suggesting the move was a leverage flush rather than the start of a deeper downturn. Analysts say the $75,000 to $77,000 range remains a key support zone, as liquidations were split between longs and shorts and did not reflect a one-sided capitulation. Rising long-term U.S. Treasury yields and geopolitical tensions, particularly around U.S.-Iran relations and oil prices, are seen as the main headwinds for bitcoin, which may stay range-bound unless yields ease.(Coindesk)