Bitcoin slumped Friday night, falling to $75,120 per coin, marking a 2.8% decline for the day. This daily decline added further blemish to an already pretty dismal seven-day period, pushing weekly losses to around 5%.
Important points:
- Bitcoin fell 2.8% on Friday as Coinglass recorded $577.9 million in crypto liquidations.
- Data from SosoValue showed $36.29 million was outflowed from the Spot Bitcoin ETF during Friday’s trading.
- Donald Trump’s warnings and Fed concerns have pushed BTC below the $76,000 resistance zone.
Bitcoin loses ground
Bitcoin is currently trading below the $76,000 zone after abandoning support at $77,000, and the $80,000 range is looking increasingly further away once again. Bitcoin’s daily structure continues to reflect the market searching for conviction following an extended retracement from all-time highs above the $126,000 mark in October 2025. Bitcoin’s market capitalization currently stands at $1.5 trillion, but Friday’s trading volume remained relatively low at $31.49 billion, adding to market volatility.
The volume that has emerged throughout the session appears to be leaning heavily towards sell-side pressure. Headwinds continue to intensify due to rising geopolitical tensions in the Middle East and US President Donald Trump’s warnings against Iran. At the same time, broader macroeconomic conditions and changes in the Federal Reserve’s expectations remain in focus, particularly as the central bank enters a new phase of leadership and many market participants are believed to be likely to turn more hawkish. Adding to the additional strain, exchange-traded funds (ETFs) recorded a series of outflows throughout this week.
Approximately $36.29 million in exit spot Bitcoin ETFs was recorded during Friday’s trading session, according to data from sosovalue.com. Persistent negative funding rates, repeated failed breakouts above the $76,000 level, and ongoing deleveraging across the futures market further intensified the decline. In the past 24 hours, long Bitcoin positions accounted for $209 million in liquidations, while short positions absorbed losses of only $4.7 million. According to statistics from Coinglass.com, total liquidations across the broader cryptoeconomy reached $577.9 million.
The moving averages remain the most obvious source of bearish pressure across the technicals, with 13 indicators pointing to the downside, while one indicator is supportive. The Momentum Oscillator provided one of the few constructive signals with the oscillator set at -4,072, with the Moving Average Convergence Divergence (MACD) registering -262, reinforcing that bearish momentum continues to dominate the broader intraday trend.
Weakening technical structures, sustained ETF outflows, increased liquidations, and heightened macroeconomic uncertainty combine to paint an increasingly defensive picture for Bitcoin in the short term. Unless the bulls regain key resistance and reverse the current pattern of failure to breakout, bearish sentiment appears to be firmly in control as traders continue to reduce exposure as market pressures intensify.
As is often the case, Bitcoin is once again acting as a barometer of global liquidity conditions and geopolitical stress, long before trading resumed on Monday morning and traditional finance (TradFi) markets fully reacted. The contrast is even more stark given Bitcoin’s decline on Friday night while Wall Street closed at a new record high.
