The price of Bitcoin had a tough weekend, erasing weeks of cautious optimism in a matter of hours. The flagship cryptocurrency was trading near $76,860 at press time, down about 5% for the week, after a sharp run that left leveraged bulls badly exposed. What the headline number doesn’t fully capture is the structural damage underneath, and whether the $77,000 area can hold long enough to be significant.
Exchanges liquidated nearly $677 million in leveraged long positions over a 24-hour period, according to CoinGlass data, the largest single-day wipeout since February 6, when bitcoin collapsed nearly $60,000 and wiped out $1.84 billion in bullish bets. By contrast, short selling accounted for just $65 million in liquidations over the same period, a ratio that underscores how unbalanced the positions have become.
Ethereum bore the brunt: long liquidations for Ethereum alone reached $244 million, compared to $160 million for Bitcoin. This appears to be driven by a confluence of hotter-than-expected US inflation data, rising Treasury yields, and renewed geopolitical tensions that have collectively dampened appetite for risk assets. US-based Bitcoin ETFs recorded net outflows of about $263.2 million in one session just before breaking below $77,000, a clear signal of risk aversion that preceded the move.
The broader market is now watching whether macro headwinds will stabilize or intensify, with Federal Reserve policy signals and ETF flow data acting as immediate catalysts.
This is the way $ Bitcoin A bottom is likely to form this cycle. pic.twitter.com/s4vvj4lx9h
– Ted (@TedPillows) May 18, 2026
Can Bitcoin price recover above $78,000 this week?
Bitcoin is currently consolidating just above the $77,000 level after hitting weekend lows near $75,600-$76,500, according to MEXC market data. This $77,000 area has emerged as the immediate battleground: it represents both combination stops and a round, psychologically significant number that the bulls need to defend to prevent a deeper pullback.
Resistance is located at $78,000, which is the BTC level Recently failed to restore, With $80,000 and the range $82,000-$84,000 representing the higher conviction recovery targets. The Cryptocurrency Fear and Greed Index fell to 28 (“Fear”), which is consistent with the type of emotional pressure that precedes sharp rises or accelerates into prolonged drawdowns.
(Source: Fear and Greed Index)
Three scenarios seem to be the most plausible from current levels. In the bullish case, BTC holds $77,000, ETF outflows reverse, and reclaiming $78,000 opens a path back toward $80,000. The base case sees the price moving sideways in the $76,000-$78,000 range as overall uncertainty keeps conviction weak.. weak Trader’s conviction is near key resistance It’s been a recurring theme in recent weeks.
The bearish case and scenario that would confirm a deeper correction includes a clean loss in the $75,000-$76,000 range; Below that, the April 2025 low near $74,500 and longer-term support around $69,000 (2021 cycle high) are in focus. Technical analysis of KuCoin He describes the current structure as “cautious but not quite bearish,” which may be the most honest framework available right now.
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Bitcoin Hyper targets early movers as BTC tests crucial support
For traders watching Bitcoin stall below $78,000, the calculus is familiar: Spot exposure carries significant downside risk at current levels, yet staying away completely means missing out on any recovery toward five-figure territory.
This tension tends to redirect capital towards early-stage infrastructure projects, leading to asymmetric upside, projects where the entry price has not yet been repriced by a broad market re-rating.
Bitcoin Hyper ($HYPER) It is one of these projects currently under sale. Positioned as the first Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration, it targets Bitcoin’s more static structural limitations, slow throughput, high fees, and limited programmability by offering sub-second finality and low-cost smart contract execution while maintaining the security of Bitcoin’s base layer.
The presale has raised $32.7 million so far at a current token price of $0.0136802, with the staking mechanism offering a high APY to early participants. The decentralized fiat bridge handles BTC transfers between layers.
Visit the Bitcoin Hyper Presale website here.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to provide accurate and timely information but should not be considered financial or investment advice. Since market conditions can change rapidly, we encourage you to verify the information yourself and consult with a professional before making any decisions based on this content.
Daniel Francis is a technical writer and Web3 educator specializing in macroeconomics and DeFi mechanics. A crypto native since 2017, Daniel brings his background in cross-chain analytics to author evidence-based reports and detailed guides. It is certified by the Blockchain Council and is dedicated to providing “information gain” that cuts through the market noise to find blockchain’s real-world utility.
