Bitcoin (CRYPTO: $BTC) slipped below $75,000 Saturday as a week of ETF outflows and leveraged positioning turned into one of the sharpest liquidation waves of the month.
Bitcoin touched $74,344 in early trading, marking its lowest level in more than a month, before clawing back toward the mid-$75,000s. The drop came less than a week after BTC was trading above $80,000, and the break lower quickly spilled across the broader crypto market.
Ethereum (CRYPTO: $ETH) was trading near $2,060 after falling more than 2% over 24 hours, while Solana (CRYPTO: $SOL) was around $84 after a steeper daily decline. The pressure landed hardest in derivatives, where forced selling accelerated as long positions were cleared out.
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Liquidations deepened as the selloff moved through derivatives markets. Crypto liquidations reached $917 million over the past 24 hours, with BTC accounting for $371 million and ETH adding about $261 million. Long positions made up $827 million of the total, underscoring how heavily traders had been positioned for a rebound before Bitcoin broke below $75,000.
The selling came after a rough stretch for U.S. spot Bitcoin ETFs, which shed more than $1.25 billion across six straight days of outflows. Rising Treasury yields have also tightened the backdrop for risk assets, leaving Bitcoin more exposed to macro pressure now that institutional fund flows play a larger role in its market structure.
Yellow Capital CEO Diego Martin said geopolitical shocks now move through Treasury yields, risk appetite and ETF flows before reaching Bitcoin, calling the transmission “more institutional now.”
Bitcoin’s weekend slide adds another test for a market that has spent the ETF era trying to balance deeper institutional access with the same leverage cycles that have long defined crypto corrections. The pullback also leaves the $75,000 area as the nearest market line after weeks of range-bound trading above it.
Bitcoin (CRYPTO: BTC) is currently trading at $75,369 U.S. per digital token.
