- Over $300 million in Bitcoin long positions were liquidated in the last 24 hours.
- The Crypto Fear and Greed Index has fallen to 8/100, indicating "Extreme Fear."
- Spot Bitcoin ETFs are experiencing sustained net outflows, adding to bearish pressure.
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Bitcoin long liquidations top $300 million as price holds $66k
Bitcoin hovered near the $66,000 support level on April 3, 2026, after a wave of selling pressure triggered over $300 million in long position liquidations over the preceding 24 hours.
Data from Coinglass shows the extensive liquidations across major exchanges, highlighting the vulnerability of leveraged traders in the current price range.
The sell-off is compounded by institutional sentiment, with spot Bitcoin ETFs recording another day of net outflows. Simultaneously, the Crypto Fear and Greed Index plunged to 8/100, a level of "Extreme Fear" not seen in recent months.
The confluence of forced selling from liquidations, institutional divestment via ETFs, and widespread fear puts the critical $66,000 support level at immediate risk. A failure to hold this line could open the door to a more prolonged market correction, while a successful defense might signal a buying opportunity for contrarian investors.
The bearish sentiment reflects a significant shift from the optimism that drove markets earlier in the year. The consistent outflows from recently launched spot Bitcoin ETFs, including those managed by major players like BlackRock and Fidelity, suggest that institutional buyers are currently stepping back. This withdrawal of large-scale capital removes a key pillar of support for Bitcoin's price. The market now watches to see if organic buying demand can absorb the pressure from liquidations and institutional selling.
This article is for informational purposes only and does not constitute investment advice.
