Coinglass data cited on May 28 shows Bitcoin faces major liquidation zones between $72,000 and $75,000 as traders also watch whether the $70,000 area can hold amid broader market stress.
More than $935 million was wiped out across the cryptocurrency market amid heightened volatility, while Coinglass data cited on May 28 showed Bitcoin facing concentrated liquidation pressure at key price levels. According to the data, a move below $72,000 could trigger about $807 million in cumulative long liquidations on major centralized exchanges, while a break above $75,000 could drive roughly $1.058 billion in short liquidations. Traders are also treating the $70,000 area as an important psychological support level for Bitcoin, making its price action central to broader market sentiment.