Bitcoin tumbles to $69.5K as liquidations spike and leverage unwinds
Bitcoin dropped to around $69,500 on Thu, Mar 26, amid a rush of forced selling and deleveraging that pushed open interest down to roughly $108 billion and produced about $273 million in 24‑hour liquidations. The Fear & Greed Index hit 9 (extreme fear), and major altcoins including ETH, SOL, XRP, DOGE and BNB were deep in the red, underscoring a broad risk‑off move across crypto markets.
The pullback matters because the fall in open interest signals a substantive unwind of leverage, increasing near‑term volatility and reducing market depth. Traders should watch key support levels and on‑chain flows for sustained buying or further capitulation; historically, extreme fear can precede rebounds, but high liquidation totals mean risk management is essential for positions entered during this rout.