According to TradingView data, BTC/USD dropped more than 7% during weekend trading, decisively losing the $80,000 support zone. With this break, the April 2025 bottom near $74,500 has returned to focus. Thin liquidity amplified volatility, allowing sell orders to accelerate and deepen price gaps.

Liquidation Cascade Accelerates

The latest decline wiped out roughly $800 million in leveraged positions within a short time frame. Total liquidations across the crypto market approached $2 billion, highlighting the scale of forced selling. A fragile market structure, already weakened earlier in the week, failed to absorb the pressure once liquidity dried up.

Keith Alan, cofounder of Material Indicators, commented on X that the local low near $80,500 had been completely invalidated. According to Alan, the breakdown increases the probability of further downside tests at lower historical levels.

Bitcoin Loses Its “True Market Mean”

On-chain analyst On-Chain College noted that Bitcoin has now fallen below its true market mean, a metric representing the aggregate cost basis of the actively circulating BTC supply. This level is currently estimated at $80,700.

Bitcoin has not traded below this metric since October 2023, when the price was near $29,000. The loss of this level is widely viewed as a negative signal for short- to medium-term price structure, suggesting that market participants are now holding coins at an average unrealized loss.

From a technical perspective, analysts are also watching the $69,000 area — the peak of the previous bull market in November 2021 — as a potential downside reference if selling pressure persists.

Strategy Bitcoin Holdings Slip Into the Red

The decline has also affected corporate Bitcoin treasuries. Strategy, the company holding the largest amount of Bitcoin among publicly known firms, now faces unrealized losses on its BTC position. The firm’s average Bitcoin acquisition cost stands at approximately $76,037, placing its holdings underwater as price slipped below that threshold.

Strategy currently holds more than 700,000 BTC. Meanwhile, the company’s stock price has fallen to around $143, marking a nearly 70% decline from its local high of $455 recorded in July last year. Continued volatility in Bitcoin prices is increasing sensitivity around Strategy’s balance sheet.

Overall, the latest move underscores that near-term risks in the Bitcoin market remain elevated, with price still searching for a stable equilibrium.

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The post Bitcoin Falls Below $76K as Strategy Bitcoin Cost Turns Negative appeared first on Coin Engineer.

61,000 BTC Seized in Ponzi Scheme Investigation

According to The Telegraph, the UK’s Home Office, in collaboration with law enforcement, is working toward selling a large crypto reserve seized from criminal activity. A major portion of the stockpile — 61,000 Bitcoin — was confiscated from a Chinese Ponzi scheme operating in the UK in 2018.

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A woman linked to the case was sentenced to over six years in prison in 2024 for laundering 150 BTC. Although victims are demanding the return of the funds, the Crown Prosecution Service has petitioned the High Court to retain the seized BTC and transfer the funds to the Treasury after liquidation.

Chancellor Eyes Crypto Sale Amid Budget Gaps

The move has reportedly gained the attention of Chancellor of the Exchequer Rachel Reeves. Facing a substantial budget shortfall, Reeves said in April that she supports working with the United States to establish clearer regulatory frameworks for crypto assets.

“Robust rules around crypto will boost investor confidence, support the growth of Fintech, and protect people across the UK,” Reeves previously stated.

As part of the effort, a police-owned procurement company, BlueLight Commercial, issued a $53.7 million tender for a centralized system to securely store and sell seized crypto. However, no qualifying bids have been accepted so far.

Legal Delays May Stall Liquidation Timeline

The greatest challenge remains the legal clearance process. According to the tender documents, the average time from seizure to sale of digital assets is about one year — but for complex cases, it may stretch to three or four years. Therefore, despite forward steps, the actual sale could face significant delays.

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The post UK Prepares to Sell $7 Billion Worth of Seized Bitcoin appeared first on Coin Engineer.

Bitcoin Intraday Key Levels

The BTC/USDT pair has gained 0.55% in the last 24 hours, currently trading at $95,947. Bitcoin (BTC) has broken the resistance level mentioned in our November 27th analysis and is continuing its upward movement. If it keeps rising, it could face resistance in the FVG region, ranging from $96,500 to $98,000. A 4-hour closing above this level will push the price toward the ATH resistance zone. Key support levels are at $94,700 and $91,213.

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Ethereum (ETH): The ETH/USDT pair has lost 1.86% in the past 24 hours and is currently trading at $3,567. Resistance levels for ETH are at $3,649 and $3,886. Support levels are at $3,527 and $3,440.

Algorand (ALGO): The ALGO/USDT pair has surged by 20.37% in the last 24 hours, currently at $0.34. Resistance levels are at $0.36 and $0.39. Support levels are at $0.328, with deeper corrections possible at $0.31.

Artificial Superintelligence Alliance (FET): The FET/USDT pair has gained 10.71% in the last 24 hours, trading at $1.63. Resistance levels are at $1.71 and $1.74. Support levels are at $1.56, with further downside potential at $1.53.

Render (RENDER): The RENDER/USDT pair has increased by 7.47% in the past 24 hours, currently priced at $8.74. Resistance levels are at $8.96 and $9.33. Support levels are at $8.28, with a deeper drop possible at $7.46.

Trending Coins

In the last 24 hours, the most trending coins in the crypto market include Hyperliquid (HYPE), Virtuals Protocol (VIRTUAL), and Grass (GRASS). The biggest gainers include ai16z (AI16Z), Virtuals Protocol (VIRTUAL), and Act I The AI Prophecy (ACT). The biggest losers are Just a chill guy (CHILLGUY), Fwog (FWOG), and Echelon Prime (PRIME).

Bitcoin Liquidation Map

Looking at Bitcoin’s 12-hour liquidation map, the key liquidation level on the higher side is $97,844, with $31 million in liquidations. On the lower side, $94,827 is the main liquidation level, with $37 million in liquidations.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Current Status of Bitcoin and Cryptocurrencies: November 29 appeared first on Coin Engineer.