Bitcoin Drops 4.16%, Ethereum, Dogecoin Plunge Amid $614M Liquidations

Crypto liquidation wipes out $614M: BTC, ETH & DOGE hit hard – Details

The crypto market is experiencing a significant wave of uncertainty, with Bitcoin, Ethereum, and Dogecoin facing substantial liquidations. Over the past 24 hours, total liquidations have reached $614.63 million, affecting more than 224,000 traders. Bitcoin has been the most impacted, with $236.87 million in liquidations, followed by Ethereum at $106.85 million. Dogecoin has suffered the most among the top 10 cryptocurrencies, with $21.79 million in liquidations following a 13% price drop. The largest single liquidation order, valued at $32.09 million, occurred on Binance in the BTCUSDT pair.

This wave of liquidations has left traders on edge, anticipating further volatility. The uncertainty surrounding Trump’s Bitcoin Reserve order and broader market conditions has contributed to the bearish sentiment. Bitcoin has tumbled 4.16% to $81,273, with Ethereum and Dogecoin experiencing even sharper declines. The lack of a clear funding plan for the executive order has left investors wary, dampening hopes of a bullish breakout.

Following this wave of liquidations, major cryptocurrencies are attempting to stabilize, but bearish pressure remains strong. At press time, Bitcoin was trading at $81,273, struggling to regain momentum after its recent decline. The RSI sat at 35.38, signaling oversold conditions, which could hint at a potential relief bounce. However, the downward trend remains intact, with strong resistance near $84,000. The OBV also showed weak buying pressure, indicating cautious sentiment among traders. If BTC fails to hold above $80,000, further downside towards $78,000 could be likely. A break above $84,000 might shift momentum in favor of the bulls.

Ethereum was trading at $2,061, showing a slight recovery but still in a downtrend. The RSI at 35.81 indicates oversold conditions, hinting at a potential rebound. However, the MACD remained