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Within a few hours, the crypto market was hit by a brief correction. While bitcoin seemed firmly established above $100,000, a sudden reversal turned the trend around, sweeping away the bullish momentum. Over $700 million in positions were liquidated, pushing BTC below $101,000. This rapid and unexpected drop destabilized investors, once again confirming the vulnerability of a market where confidence can shift in an instant.
In Brief
- Within a few hours, a correction struck the crypto market, pushing bitcoin below $101,000.
- More than $700 million in positions were liquidated, including nearly $485 million in long positions, according to CoinGlass.
- This drop occurred just after BTC had climbed back above $100,000 for the first time since February.
- The $105,000 resistance now appears difficult to break, hindering any significant bullish recovery.
Cascade of Liquidations: Bitcoin Yields to Pressure
The crypto market experienced a brutal liquidation episode on the night of May 11, leading to a drop in the bitcoin price below the symbolic $101,000 mark. BTC traded within a range of $103,133 to $104,841 over 24 hours before succumbing to widespread selling pressure.
More than $700 million was liquidated. According to CoinGlass data, “long positions alone accounted for $484.85 million in losses,” while short liquidations reached $214.86 million. This situation caused a rapid disintegration of long positions.
Such a movement caught many investors off guard, even as the market appeared buoyed by renewed optimism following BTC’s return above $100,000 for the first time since February.
Ethereum was also affected, recording a 2.9% drop, with a current price of $2,449.24.
This drop is partly explained by automatic liquidation mechanisms and high leverage exposure on derivative markets. Several technical factors amplified this correction :
- The majority of heavily exposed long positions were caught in an abrupt reversal ;
- Low liquidity levels on some exchanges aggravated the speed of the drop ;
- Major altcoins suffered similar losses, spreading the correction throughout the market ;
- No clear fundamental catalyst justifies this drop, suggesting it is primarily a mechanical and speculative move.
This kind of episode illustrates the increased vulnerability of the crypto market, where cascading liquidations can erase billions of dollars in valuation within hours without any obvious true economic signal.
Selling Pressure : Between Technical Resistance and Signs of Fragility
Beyond the massive liquidations, the market’s technical configuration heightens concerns. The hourly bitcoin chart shows a clear decline, with a sharp fall from a local high of $105,706 to an intraday low of $100,764, before a slight rebound.
This movement signals a return of selling pressure, confirmed by the dominance of red volume bars in recent sessions. The largest isolated liquidation was recorded on Bybit, on the BTC/USD pair, for an amount of $11 million. Additionally, other cryptos were not spared, with $31.53 million in positions liquidated during the period.
The $105,000 threshold now appears as a difficult resistance zone to overcome, limiting attempts at bullish recovery. This technical level, tested multiple times, has consistently generated pullbacks, highlighting a lack of conviction among buyers.
In the absence of a strong catalyst, this resistance acts as a psychological and operational ceiling, capable of blocking any sustained upward momentum. Volume analysis shows that every attempt to break through has been thwarted by intensified selling, reinforcing the hypothesis of a crypto market in the short term dominated by sellers.
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Diplômé de Sciences Po Toulouse et titulaire d’une certification consultant blockchain délivrée par Alyra, j’ai rejoint l’aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l’économie, j’ai pris l’engagement de sensibiliser et d’informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu’elle offre. Je m’efforce chaque jour de fournir une analyse objective de l’actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
