The price of Bitcoin suffered a difficult weekend, which erased weeks of cautious optimism in a few hours. The flagship cryptocurrency was trading near $76,860 at press time, down about 5% for the week, following a sharp rise that exposed leveraged bulls. What the headline number doesn’t fully capture is the structural damage underneath and whether the $77,000 area can hold long enough to matter.
Exchanges liquidated about $677 million in leveraged long positions over a 24-hour window, according to CoinGlass data, the largest single-day wipeout since Feb. 6, when bitcoin crashed toward $60,000 and erased $1.84 billion in bullish bets. In contrast, shorts accounted for just $65 million in liquidations during the same period, a ratio that highlights how lopsided positioning had become.
(SOURCE: CoinGlass)
Ethereum bore the brunt: ETH long liquidations alone reached $244 million, compared to $160 million for BTC. The trigger appears to be the confluence of higher-than-expected U.S. inflation data, rising Treasury yields and renewed geopolitical tensions that collectively have dampened appetite for risk assets. US spot Bitcoin ETFs saw net outflows of around $263.2 million in a single session just before the break below $77,000, a clear signal of risk aversion leading up to the move.
The broader market is now watching whether macroeconomic headwinds stabilize or intensify, with policy signals from the Federal Reserve and ETF flow data serving as the most immediate catalysts.
This is how $BTC the bottom will most likely 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 a weekend low between $75,600 and $76,500, according to Mexican market data. This $77,000 zone has become the immediate battleground: it represents clustered stop-loss orders and a psychologically significant round number that bulls must defend to avoid a deeper unwind.
Resistance lies at $78,000, a level that BTC has failed to recover recently, with $80,000 and the $82,000 to $84,000 band representing higher conviction recovery targets. The Crypto Fear & Greed Index fell to 28 (“Fear”), consistent with the type of sentiment compression that precedes sharp rebounds or accelerates toward prolonged declines.
(SOURCE clue of fear and greed)
Three scenarios seem most plausible given current levels. In the bull case, BTC holds $77,000, ETF outflows reverse, and a recovery to $78,000 sets the stage for a return towards $80,000. The base case sees prices moving sideways in the $76,000-$78,000 range, while macroeconomic uncertainty keeps conviction moderate.. Weak traders’ belief near key resistance has been a recurring theme in recent weeks.
The bearish case and the scenario that would confirm a deeper correction involve a net loss of the band of $75,000 to $76,000; Below, the April 2025 low near $74,500 and longer-term support around $69,000 (2021 cycle high) are highlighted. KuCoin’s technical analysis describes the current structure as “cautious but not entirely bearish”, which is perhaps the most honest framework available at the moment.
DISCOVER: Best Meme Coins to Buy in 2026
Bitcoin Hyper targets early positioning as BTC tests critical support
For traders watching Bitcoin price stall below $78,000, the math is familiar: spot exposure carries significant downside risk at current levels, but walking away completely means missing any recovery into five-digit territory.
This tension tends to redirect capital towards early-stage infrastructure projects with asymmetric upside potential, projects whose entry price has not yet been reassessed by a broad market revaluation.
Bitcoin Hyper ($HYPER) is one such project currently on presale. Positioned as the first Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration, it targets Bitcoin’s most persistent structural limitations, slow throughput, high fees, and limited programmability by offering sub-second finality and low-cost smart contract execution while retaining the security of Bitcoin’s base layer.
The presale has raised $32.7 million to date at the current token price of $0.0136802, with a staking mechanism offering a high APY for early participants. A decentralized canonical bridge manages 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 is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
Daniel Frances is a technical writer and Web3 educator specializing in macroeconomics and DeFi mechanics. Hailing from crypto since 2017, Daniel leverages his experience in on-chain analytics to write evidence-based reports and in-depth guides. He holds certifications from the Blockchain Council and is dedicated to providing “insight gain” that overcomes market hype to find real utility for blockchain.
