Bitcoin drops to $73.7K. Then jumps when $1B leverage is wiped out.
Bitcoin hit its lowest level since August during a volatile Sunday before buyers moved back in.
BTC fell to about $73,761 and later recovered above $75,000.
The move sparked more than $1 billion in crypto liquidation over 24 hours.
Of that amount, about $913 million came from traders betting that prices would rise.
Bitcoin alone accounted for roughly $272 million in liquidations.
The sell-off came as crypto markets reacted to new risk headlines while traditional markets closed, including renewed uncertainty surrounding the US-Iran negotiations and additional concerns surrounding the trade in artificial intelligence.
Important: Bitcoin is currently trading between two significant technical levels.
Support is near the 200-day moving average around $73,150.
Resistance sits around the 100-day moving average near $77,430.
This creates a fairly clear short-term battlefield.
Below 73 thousand dollars, the market structure weakens significantly.
Above $77k, buyers are starting to regain ground lost during last week's selloff.
Bitcoin briefly broke towards the bottom of this range.
Then buyers appeared.
Now the battle is between $73K and $77K.