Bitcoin held around $73,000 on Friday afternoon after a bruising bout of forced selling that wiped out roughly $459 million in leveraged positions over the past week, according to market data cited by various on-chain data aggregators.
Instead of accelerating lower, prices across major tokens have gone oddly quiet—an outcome traders often read as seller exhaustion.
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Ethereum (ETH) was just hovering a little above $2,170, while XRP continued to defend the mid-$1.40s zone. The resilience has stood out against a broader risk-off backdrop tied to geopolitics and shifting liquidity conditions, leaving investors split on whether the market has found a near-term floor.
Market In ‘Stuck Mode’? BTC, ETH & XRP Seek For a Breakout
For Bitcoin (BTC), the focus has narrowed to the $69K-$72K level as a structural support area. The lack of follow-through selling after liquidation-driven volatility suggests that Spot demand may be absorbing supply, even as sentiment remains fragile. At the current price of $73K, Bitcoin’s liquidation leverage dwelled at $1.40 million, according to the heat-map.
Ethereum’s chart looks similarly tense. Technical watchers have flagged the $2,150 area as a near-term ceiling; a decisive close above it would improve the case that the recent flush-out is over. On the downside, a slip back under $2,000 would put the late-February support region back in play, with deeper downside targets discussed if momentum breaks.
XRP is being watched around the $1.35-1.42 support band. Some analysts point to heavy overhead supply between roughly $1.76 and $1.80, arguing that any rebound may struggle unless the token can reclaim the low-$1.50s first.
Geopolitics & Macro Pressure Hasn’t Broken Crypto – Yet
Traders are also weighing a macro calendar that could jolt the current lull. Options positioning in the largest tokens and upcoming U.S. inflation data have been highlighted in the crypto press as near-term volatility catalysts, particularly if rates expectations reprice quickly.
What’s striking is the disconnect: liquidation events typically coincide with clean trend breaks, but this time the market has consolidated instead. That can happen when leverage has been cleared while longer-term holders step in—though it can also precede another sweep lower if major-caps roll over again.
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