Bitcoin plummeted due to insufficient liquidity and record leverage, triggering a sudden sell-off over the weekend.

In the past 24 hours, the price of Bitcoin dropped nearly 5%, with the latest trading price at $86,415.88. This drop wasn't due to any sudden news “fanning the flames,” but the market liquidity was already quite “thin,” and with the leverage reaching historical highs, even a small sell-off could trigger a chain liquidation—losing thousands of dollars in just a few minutes is how it happened.

From a technical perspective, Bitcoin's momentum is weakening: the 9-day and 20-day moving averages are both trending down, indicating that the bulls are losing steam; the MACD is still in negative territory, and the selling pressure is only temporarily pausing; the RSI is nearing the oversold zone, but hasn't reached the point of reversal. In simple terms, the market is currently weak and “lacking volume,” and it can't withstand even slight fluctuations.

Support and resistance levels are also quite critical: the current price is just resting on the support level of $84,250 - $84,739; if it can't hold, it might drop to $82,389; the resistance above is at $86,846 and $87,498, and it needs to stabilize at these two positions for the upward momentum to have a chance to return; for a true reversal, it must break through $94,270.

The order book also shows how poor the liquidity is: there is some buying support near $86,310, but the support below is quite weak; on the selling side, $86,520 is short-term resistance, and it can only move towards $86,710 if it breaks through, but overall, the sellers still have the upper hand.

This situation of “plummeting without news” is fundamentally a market structure issue—too much leverage + insufficient liquidity, especially during quiet weekend trading, even small fluctuations can be amplified. In the short term, volatility may still persist, whether going long or short, keeping an eye on key price levels (like the support at $84,250 - $84,739 and the resistance at $87,498), and focusing on risk control is essential. #eth #BTC #加密市场反弹