---
title: "What 15% BTC price crash? Bitcoin bulls charge higher as $67K returns"
url: https://diffcoin.com/what-15-btc-price-crash-bitcoin-bulls-charge-higher-as-67k-returns/
description: "Bitcoin (BTC) is rapidly recovering from its $10,000 BTC price drop as wild volatility keeps up pressure on traders.BTC/USD 1-hour chart. Source:…"
published: 2024-03-06
updated: 2024-03-06
author: "Mila"
site: "Diffcoin"
---

# What 15% BTC price crash? Bitcoin bulls charge higher as $67K returns

Bitcoin (BTC) is rapidly recovering from its $10,000 BTC price drop as wild volatility keeps up pressure on traders.

*BTC/USD 1-hour chart. Source: TradingView*

## Derivatives show BTC price bets are already back

Data from Cointelegraph Markets Pro and TradingView shows BTC/USD clawing back more than half its March 5 losses.

That day saw Bitcoin finally reclaim its all-time highs from November 2021, but whales were lying in wait for late longs on over-leveraged markets.

“There aren’t less people wanting to own bitcoin after this flush,” popular Bitcoin personality Hodlonaut wrote in part of [commentary](https://twitter.com/hodlonaut/status/1765166598258622668) on X (formerly Twitter).

> “This was a case of big whales moving the market like a wave, sending thousands of over-leveraged or under-informed small fish into their mouths.”

Crypto liquidations *(screenshot). Source: CoinGlass*

Per data from monitoring resource CoinGlass, the drop, which bottomed near $59,300 on Bitstamp, claimed $1.17 billion in cross-crypto liquidations. The majority of these were longs.

Examining market structure, however, a cathartic effect is visible — funding rates across exchanges have seen a modest reset from levels that observers argued were unsustainable.

*BTC funding rates (screenshot). Source: CoinGlass*

Open interest tells a similar story, but the latest estimates show this building in line with the BTC price comeback after an initial $3 billion flush.

*Exchange Bitcoin futures open interest (screenshot). Source: CoinGlass*

## Bitcoin order book shows whale move ongoing

On the topic of trader behavior, meanwhile, trading resource Material Indicators is showing whales potentially shifting expectations of what is to come.

***Related: Bitcoin analysts say BTC price correction is just ‘healthy consolidation’***

A block of bid liquidity on largest global exchange Binance has headed higher, providing what potentially cushioned the correction from $69,000.

“On Feb 28th whales moved $54M in BTC USDT bid liquidity on @binance from the $36k – $38k range and turned it into a buy wall at $52k. FireCharts shows that today they moved more than half ($27M) of that buy wall and converted it into a bid ladder that climbs from $60k – $65k,” Material Indicators [wrote](https://twitter.com/MI_Algos/status/1765078444042551806/photo/1) in part of accompanying comments.

> “Too early to tell if this will be the extent of the pullback (for now), but it’s clear that a large entity either has concern that price won’t dip to $52k, or doesn’t want to allow price to go that low.”

*BTC/USDT order book liquidity for Binance. Source: Material Indicators/X*

Elsewhere, a popular comparison to BTC price behavior in late 2020 — when previous all-time highs were broken — continues to circulate.

Then, BTC/USD also saw a snap retracement, spending around two weeks below the new highs before finally breaking out.

*Source: https://twitter.com/smilinglllama/status/1765111504192282915*

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

[Source link](https://cointelegraph.com/news/btc-price-crash-bitcoin-higher-67k-returns)