Bitcoin Falls Below $64,000 While Ethereum Loses $1,900 Level
Bitcoin fell below $64,000 and Ethereum broke beneath $1,900 on August 10 as a relatively orderly pullback developed into a broader derivatives flush.
Summary:
- Bitcoin fell below $64,000 while Ethereum dropped through $1,900.
- Crypto liquidations reached $213.06 million over the past 24 hours.
- Long positions accounted for most of the forced selling.
- BTC and ETH momentum weakened sharply ahead of U.S. inflation data.
The move coincided with more than $213 million in crypto liquidations over 24 hours, while renewed Middle East uncertainty pushed oil prices higher and left investors cautious ahead of this week’s U.S. inflation data.
Long liquidations turned a pullback into forced selling
The structure of the liquidation data helps explain why the decline accelerated.
CoinGlass data in the supplied dashboard show approximately $213.06 million of positions liquidated over the previous 24 hours across 75,682 traders. Long positions accounted for $144.74 million, more than twice the $68.32 million in short liquidations.
Bitcoin represented the largest crypto-specific liquidation block at roughly $59.69 million, followed by Ethereum at $54.64 million.
The four-hour window is even more revealing. Around $101.9 million of longs were liquidated against just $28 million of shorts, suggesting the latest leg lower disproportionately removed traders positioned for continued upside.
That matters because liquidation-driven declines work differently from ordinary spot selling. When leveraged positions breach maintenance requirements, exchanges automatically close them. Those forced sales push prices lower, potentially triggering another layer of stop-losses and liquidations.
The result can be a sharp move without requiring a single fundamental crypto-specific catalyst.
Selloff Snapshot
- BTC liquidations: Approximately $59.69 million
- ETH liquidations: Approximately $54.64 million
- Traders liquidated: 75,682
Macro pressure arrived at an inconvenient moment
The selloff also occurred against a weaker backdrop for risk assets.
Oil prices rose sharply Monday as negotiations around the Strait of Hormuz remained uncertain. Brent crude climbed above $86 while U.S. crude moved above $80, reviving concerns that another energy shock could complicate the inflation outlook. European equities weakened and major U.S. indexes traded cautiously.
Crypto did not need a major industry-specific headline to react.
Bitcoin has continued trading as a high-beta risk asset during periods when markets rapidly reprice interest-rate or geopolitical expectations. Higher energy prices matter because they can feed into inflation expectations, while persistent inflation gives the
Investors are now waiting for U.S. consumer inflation data due later this week, one of the next major inputs for interest-rate expectations. Reuters reported that markets are looking for signs that July inflation moderated, while the jump in oil has complicated the broader inflation narrative.
Bitcoin loses $64,000 as momentum deteriorates
The four-hour Bitcoin chart shows a clear change in short-term structure.
BTC traded near $63,930 after falling from above $65,000 earlier in the session. Two large bearish candles pushed price through $64,400 and then below the psychological $64,000 level, leaving the recent swing low around $63,750-$63,800 as the immediate area buyers need to defend.
Momentum indicators confirm that the decline is more than a minor intraday dip.
The four-hour RSI has fallen to approximately 36.2, down sharply from readings around the mid-50s. That signals pronounced downside momentum, although BTC has not yet reached the conventional oversold threshold below 30.
MACD has deteriorated more aggressively. The histogram has expanded further into negative territory while the MACD line has moved sharply beneath its signal line, indicating that bearish momentum is still increasing rather than stabilizing.
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The first meaningful upside test is now around $64,200-$64,400, where price broke down earlier. A recovery above that area would suggest that forced selling is being absorbed. Failure to hold the current swing low would leave $63,200 and eventually the broader $62,000 region exposed.
Ethereum’s break below $1,900 is technically more damaging
Ethereum has suffered the sharper technical breakdown.
ETH was trading around $1,874.82 on the supplied four-hour chart after dropping from approximately $1,918 in a single large bearish candle. The move decisively broke the $1,900 level that had acted as both psychological and technical support during the previous consolidation.
CoinDesk showed ETH near $1,874 at the time of the latest market update, consistent with the supplied Coinbase chart.
The four-hour RSI has fallen to approximately 35.2, while MACD has crossed firmly into negative territory. The expanding bearish histogram indicates that sellers still control short-term momentum.
The immediate support zone lies around $1,865-$1,870, close to the lows established before the previous breakout. If that fails, the chart leaves room for a deeper retracement toward $1,840.
For the bearish structure to weaken, ETH would first need to reclaim $1,890 and then establish itself back above $1,900. A move toward the prior $1,915-$1,925 consolidation zone would require a more substantial reversal in momentum.
Why positive ETF demand did not stop the decline
One useful distinction is the gap between structural demand and short-term derivatives positioning.
U.S. spot Bitcoin ETFs attracted approximately $853.5 million in net inflows last week, their strongest weekly result since mid-April.
Yet those inflows were unable to prevent Monday’s selloff.
That is not necessarily contradictory. ETF flows operate primarily through spot markets and can provide persistent underlying demand, while leveraged derivatives can dominate shorter time frames when liquidations accelerate. A concentrated flush in futures can therefore drive BTC lower even while longer-term institutional flows remain constructive.
The important question now is whether Monday’s liquidation event reduces enough excess leverage to allow spot demand to regain control.
The market is approaching a cleaner positioning setup
The liquidation wave has removed a significant amount of leveraged long exposure, which can reduce the probability of another immediate cascade if open interest and funding rates normalize.
That does not automatically create a bullish setup.
Bitcoin remains below $64,000, Ethereum has lost $1,900, and both four-hour momentum structures are bearish. The next market signal will come from whether buyers defend the current swing lows after the forced selling subsides.
The macro calendar adds another complication. With oil prices elevated and U.S. inflation data approaching, traders have little incentive to rebuild aggressive leverage before receiving a clearer signal on the interest-rate outlook. If BTC can stabilize above roughly $63,750 while liquidation volumes decline, the move may prove primarily a leverage reset. A continued breakdown after that forced selling fades would point instead to a broader deterioration in spot demand.
The information presented in this article is intended for informational purposes only and should not be interpreted as financial, investment, or trading advice. Coinspress.com does not promote or advocate for any particular investment strategy, asset, or cryptocurrency project. Cryptocurrency markets are highly volatile and unpredictable – always perform your own research and seek guidance from a qualified financial professional before making any investment decisions.
Alexander Zdravkov
Reporter at CoinsPress
Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
