Bitcoin Price Forecast: Following $827M in Liquidations – Is a Return to $104k Possible with ETF Inflows?

Bitcoin has dropped to $103,570, reflecting a decline of over 1.50% in the past 24 hours, accompanied by more than $827 million in liquidations. The majority of these were long positions being compelled to sell in a declining market, which has intensified the downturn. This selling pressure has contributed to significant downward momentum, bringing prices to multi-week lows.

The liquidation event highlights the risks associated with leverage in a fluctuating cryptocurrency market, where substantial price shifts can activate automated sell orders.

WHAT TF IS GOING ON IN THE MARKET
Over $210 million liquidated in the last hour and over $830 million in the last 24 hours
Buckle up boys and stay out of high leverage pic.twitter.com/M530ccZvSk

— Vishal Techzone (@VishalSahu21) May 30, 2025

• $827M liquidated, primarily longs
• BTC below crucial support, currently attempting to recover to $104K
• Volume stands at $52.38B as of today

Macroeconomic Concerns and ETF Outflows Impact Market

In addition to the immediate market turmoil, macroeconomic and geopolitical uncertainties are contributing to the prevailing anxiety. A disappointing US GDP figure and ongoing tariff disputes from the Trump administration are unsettling investors. High-risk assets, including Bitcoin, are experiencing the most significant impact as caution permeates the markets.

BlackRock’s iShares Bitcoin Trust (IBIT) experienced a record outflow of $430.8 million on May 30, concluding a 31-day streak of inflows. This marks the largest single-day outflow since the ETF’s launch in January 2024, suggesting that institutional investors are growing increasingly apprehensive.

BlackRock’s Bitcoin ETF just saw its BIGGEST outflow since launch!
$430.82M $BTC lost, ending a solid 31-day streak of inflows.
Dump… or transfer to diamond hands? pic.twitter.com/djwvWKSF5x

— Coin Bureau (@coinbureau) May 31, 2025

Across all 11 US spot Bitcoin ETFs, a total of $616.1 million was withdrawn for the day. While BlackRock’s Bitcoin assets remain at $70 billion, these outflows indicate a shift in market sentiment.

Bitcoin Technical Analysis: Significant Levels and Potential Rebound Indicators

From a technical perspective, the Bitcoin price outlook appears bearish, as BTC has breached the upward trendline. On the 4-hour chart, Bitcoin has fallen below a rising trendline and is forming a descending triangle. This classic formation, characterized by lower highs converging towards horizontal support, suggests further bearish momentum.

Bitcoin Price Chart – Source: Tradingview

The 50-period EMA acts as resistance at $106,932. The MACD corroborates this with a bearish crossover and red histogram bars.

Key levels to monitor:

• Support: $102,141 – if this level is breached, we may see $100,799 or $99,356
• Resistance: $106,409 – a potential reversal point if patterns develop* Reversal Watch: Bullish candlestick patterns (Morning Star, Bullish Engulfing) at support, MACD divergence, and reclaiming the 50-EMA as reversal indicators

The short-term outlook is bearish, but a notable reversal with strong buying at support could push prices back to $104K and beyond. However, without reversal indicators, caution is advised, as the path of least resistance appears to be downward.

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The post Bitcoin Price Prediction: Post-$827M Liquidation Carnage – Can BTC Reclaim $104k Amid ETF Inflows? appeared first on Cryptonews.