Bitcoin Market Turbulence: $58.8M Liquidated Amid 10% Price Drop
Bitcoin’s recent price decline has sparked significant activity in the futures market, with millions liquidated as the cryptocurrency’s value dropped by 10% in just 24 hours. Here’s a breakdown of the key developments and what they mean for the market.
Bitcoin Drops by 10% with $58.8M Liquidated in Futures
The Bitcoin ($BTC) futures market saw $58.8 million in total liquidations as Bitcoin’s price declined by 10% over the past 24 hours. Long positions accounted for $42.1 million of the liquidations, making up 73% of all transactions, while short positions contributed $16.6 million. Despite the significant price drop, the liquidation size was relatively modest, indicating limited leverage chasing upside.
Bitcoin Whale Count Jumps 4.6%, Yet On-Chain Data Flashes Bearish
The number of large Bitcoin holders has increased recently, signaling renewed institutional interest even as the market faces high volatility. On April 1, 2025, the number of entities holding more than 1,000 BTC reached 1,725, the highest level since January. In the past two months, 76 new entities holding over 1,000 BTC have joined the network, a 4.6% surge that signals rising institutional demand. However, on-chain data reveals sell pressure as Realized Cap outpaces stagnant Market Cap. Active Bitcoin addresses drop, suggesting lower retail activity despite high prices.
Bitcoin’s 1-year returns drop to 23.6% – Is the wild ride over?
For the first time since its 2023-2024 rally, Bitcoin [BTC] has slipped below gold, the S&P 500, and the Nasdaq in annual returns. This shift marks the end of Bitcoin’s speculative bubble and signals its gradual maturation, indicating it may no longer experience explosive cycles and speculative hype. The days of 100% gains might be behind us, as Bitcoin begins to behave less like a rogue asset and more like traditional investments.
Michael Saylor Holds Off on Bitcoin Buys as Price Falls
Michael Saylor’s company, Strategy, declared in a US Securities and Exchange Commission filing on April 7 that it had not made any Bitcoin purchases from March 31 to April 6. The decision to pause Bitcoin purchases came amid increased market volatility. During this period, Bitcoin saw significant price fluctuations, climbing as high as $87,000 on April 2nd before retracting below $80,000 on April 6. As of April 7, Strategy held 528,185 Bitcoin purchased at an average price of $67,458 per BTC.
Michael Saylor’s Strategy Suspends Bitcoin Buying
Michael Saylor’s company, Strategy, has halted its Bitcoin purchases amid global financial instability. This marks a rare moment of restraint for Saylor’s famously aggressive crypto strategy, suggesting the firm may be recalibrating its long-term playbook. Trump’s tariffs are also impacting the crypto space, with Bitcoin dropping 10%, underscoring how digital assets are increasingly tied to global political shocks. Prominent backers like Bill Ackman have publicly rebuked Trump’s tariff policies, leading to concerns that political volatility could derail investor sentiment across both traditional and digital markets.
