BTC: longs flushed at 72.2k, price boxed between two walls
Bitcoin is down about 2.3 % since the UTC open, and the order flow shows who drove it. Cumulative delta has fallen by roughly 2,500 BTC since the London morning, and a single 15-minute candle printed about 1,160 BTC of net selling on its own.
That push forced out around $47 million of long positions between 72,350 and 72,175 within a few seconds: the big red bubble on the chart. The largest single close was about $31 million at 72,175.
Since then price has been stuck in a narrow box. Right above sits an ask wall at 72,300 with about $28 million resting; right below, a bid wall at 72,200 with about $21 million, just above today's low at 72,106. Funding is slightly negative.
Levels I am watching on the live heatmap:
- Below: 72,000, then an estimated $40 million of long liquidations around 71,900 and a $23 million bid wall at 71,800. If the 72,200 bid is pulled or eaten, that is the next pocket of liquidity.
- Above: the 72,300 wall first, then 73,000 with a $22 million ask wall and an estimated $30 million of short liquidations around 73,100.
The selling has been heavy, but the bid wall has taken it so far. Whether 72,200 holds, gets eaten or gets pulled is the thing to watch. Walls move, so check the live order book before leaning on any of these levels. Data as of 9:16 AM ET (14:16 UTC).