Bitcoin fell more than 7% during weekend trading, slipping below $80,000 for the first time since April 2025 and briefly nearing $75,000 as thin liquidity amplified the move.
Liquidations accelerate into the weekend
The sell-off triggered roughly $800 million in liquidations, according to the report, with total liquidations cited at $2 billion.
At the time of writing, BTC was trading below $78,000, with the April 2025 low near $74,500 back in focus.
Traders flag key cost-basis levels
Material Indicators co-founder Keith Alan wrote on X that a local low around $80,500 was “annihilated,” and pointed to downside levels including $69,000, the top of bitcoin’s previous bull market in November 2021.
On-Chain College said bitcoin had dropped below its “true market mean,” described as the aggregate cost basis for the current active BTC supply.
He wrote:
“Bitcoin is now BELOW the True Market Mean ($80.7K) for the first time since October 2023, when the price was at $29K.”
Strategy’s position slips into the red
The move also brought attention to Strategy, which the report said holds more than 700,000 BTC.
Strategy’s aggregate cost basis was cited at $76,037, meaning the company’s bitcoin treasury would be underwater if price remained below that level.
Strategy shares (MSTR) were cited at $143, down nearly 70% from local highs of $455 in July last year, with its historical bitcoin holdings closely watched by market participants.
