Bitcoin Slips Below $75,000 as $1.2 Billion in Crypto Liquidations Deepen Market Pressure

Bitcoin was trading at Rs. 69.9 lakh on Tuesday as cryptocurrency markets faced renewed selling pressure amid stronger US employment data, expectations of tighter monetary policy, and substantial institutional withdrawals. Ethereum (ETH) was priced at Rs. 1.97 lakh, while major altcoins recorded mixed movements. Market participants said Bitcoin's decline below $75,000 (roughly Rs. 70.1 lakh) had been amplified by nearly $1.2 billion (roughly Rs. 11,244 crore) in leveraged liquidations across cryptocurrency markets over 24 hours. Investors are now awaiting October US inflation data, with prices expected to rise 0.3 percent. According to CoinGecko data, Bitcoin traded at $74,700 (roughly Rs. 69.8 lakh), while Ethereum was priced at $2,111 (roughly Rs. 1.97 lakh).

The world's largest cryptocurrency fell 2.2 percent in the last week, according to the Gadgets 360 price tracker. Bitcoin and Ethereum ETFs recorded outflows of $412 million (roughly Rs. 3,860.44 crore) and $93.19 million (roughly Rs. 873.19 crore), respectively, although both cryptocurrencies continued to hold important price levels. Analysts said Bitcoin needs to recover $76,000 (roughly Rs. 71.2 lakh) to improve its near-term outlook, while $73,000 (roughly Rs. 68.4 lakh) remains a crucial support level.

Major Altcoins Show Mixed Movements as Bitcoin Remains Under Pressure

Binance Coin (BNB) was priced at $689 (roughly Rs. 64,500), while Solana (SOL) traded at $86 (roughly Rs. 8,050). XRP was priced at $1.09 (roughly Rs. 102), while Dogecoin (DOGE) traded at $0.0700 (roughly Rs. 65.5). 

US Jobs Data and ETF Withdrawals Keep Bitcoin Under Pressure

Discussing Bitcoin's decline, institutional investment flows, and upcoming economic data, Prateek Gupta, Head of Business at Mudrex, said, “The decline was further magnified by nearly $1.2 billion (roughly Rs. 11,244 crore) in leveraged liquidations across crypto markets within 24 hours. Institutional demand remains under pressure, with US spot Bitcoin ETFs seeing $1.28 billion (roughly Rs. 11,993.60 crore) in outflows last week, pushing their 2026 net flows into negative territory, largely due to withdrawals from BlackRock's IBIT. Attention now shifts to October US inflation data, where prices are expected to rise 0.3 percent.”

Highlighting the broader market conditions, institutional withdrawals, and Bitcoin's key trading levels, Nischal Shetty, Founder of WazirX, said, “Crypto markets remained supported by stronger global equities, lower energy prices, and a decline in the dollar, despite elevated Treasury yields and institutional withdrawals [...] China's consumer inflation reached 0.7 percent and producer inflation 5.7 percent, while firm US employment kept Treasury yields near 4.88 percent. However, declines in Brent and the dollar eased financial pressure. US and Asian equities advanced, while the VIX declined sharply.”

Commenting on Bitcoin's recovery attempts, institutional demand and the upcoming US inflation release, Vikram Subburaj, CEO of Giottus.com, said, “The provisional $12.2 million (roughly Rs. 114.31 crore) inflow on Monday is too small to call a reversal, and BlackRock's IBIT still has not reported. The weakness extends beyond Bitcoin. Ether slipped 0.38 percent, and Solana fell 1.49 percent over 24 hours, according to CoinMarketCap [...] Investors planning to add to their holdings can split the purchase into two and leave the second for after the inflation release [...] Keep leverage low going into the release.”

Overall, analysts said cryptocurrency markets remain under pressure as stronger US employment data, expectations of tighter monetary policy and substantial institutional withdrawals weigh on investor sentiment. Bitcoin's ability to reclaim $76,000 (roughly Rs. 71.21 lakh) will be important for improving its near-term outlook, while support around $74,700 (roughly Rs. 69.99 lakh) and $73,000 (roughly Rs. 68.40 lakh) remains crucial.