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Sign InBitcoin traders absorbed a massive $584 million in long liquidations on Monday, triggered by intensifying geopolitical pressures. According to a report from Bitfinex analysts, this liquidation event has created a heavy overhead resistance zone. The analysts specifically identified $85,900 as a critical technical level that could cap any immediate recovery rally in the near term.
The sell-off coincided with a broader market retreat as rising U.S. Treasury yields dampened investor appetite for speculative assets. Peer cryptocurrencies also faced downward pressure, with Ethereum and major altcoins tracking Bitcoin's decline per market data. Analysts noted that the combination of macroeconomic uncertainty and geopolitical shifts has led to a temporary exhaustion of buying momentum.
Market participants are now closely watching for a sustained hold above on-chain support levels to negate further downside. Key catalysts to watch include upcoming speeches from Federal Reserve officials, such as Williams and Bowman on May 14, 2026, which may provide clarity on monetary policy. Until the $85,900 resistance is cleared, the outlook remains cautious for BTC.