Bitcoin Hits $107K Then Drops: $651M Liquidated Amid Sudden Crypto Volatility

Quick overview

Bitcoin (BTC) blew up to $107,133 on Bitstamp over the weekend and then dropped to $102,579—a 4.23% intraday correction. Traders were caught off guard and derivatives platforms saw massive forced liquidations.

According to CoinGlass, $651 million in crypto positions were liquidated in the last 24 hours.

Market cap across all crypto assets dropped 2.7% to $3.36 trillion. The price above the prior weekly high of $105,663 was met with a wall of sell orders and a shooting star candle—a pattern that often means exhaustion at the top.

Bitcoin Technical Picture: Bulls on the Ropes?

Bitcoin BTC/USD is now at $103,054 and struggling to get back to $104,000. The 50-EMA at $103,681 is short term resistance after price closed below it.

Structurally, BTC is still in a broad ascending channel but a series of lower highs means momentum is weakening.

• Support to watch: $102,000 (trendline), $101,449 (horizontal support)
• Resistance zones: $104,000 (prior pivot), $105,552 (post surge)

The recent candles are showing indecision with tight ranges and long wicks. If BTC can’t hold $102K, downside risks are $101.1K and the thin volume area between $100.3K and $99.8K. But a bullish engulfing candle or bounce from trendline support could get momentum back to $105K+.

For new traders: Think of the current range as a slanted tennis court—if bulls can’t hold their side, price will drop fast. Wait for confirmation before entering.

Altcoins Follow Bitcoin Down

Bitcoin’s pullback dragged altcoins down with it:

• Ethereum (ETH): -8.76% in last 13 hours
• XRP: -5.31%
• Dogecoin (DOGE): -9.11%

The reaction was sharp despite the Bitcoin volatility index being at 10 month lows. Until BTC finds support and confirms a reversal, altcoins will be under pressure.

ABOUT THE AUTHOR See More

Maham Arslan

Crypto News Writer | Blockchain & Web3 Reporter

Maham is a crypto news writer and market analyst specializing in breaking down the latest developments across blockchain, digital assets, and decentralized finance (DeFi). With hands-on experience covering high-impact stories—from regulatory shifts and token launches to macro-driven price movements—she delivers timely, accurate, and SEO-optimized content for fast-growing crypto media platforms. Her expertise lies in producing daily news reports, price predictions, technical summaries, and coverage of market-moving events. Maham tracks real-time updates across global newswires, X (Twitter), and on-chain data to provide actionable insights tailored for retail traders, crypto enthusiasts, and institutional readers. With a strong grasp of crypto fundamentals and Web3 trends, she delivers content that’s informed, accessible, and always on time.

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