Bitcoin Whipsaw! IDR5 Trillion Liquidated in 24 Hours, Support of IDR1.06 Billion is Decisive

Jakarta, Pintu News – Bitcoin (BTC) experienced extreme volatility in the past week after whipsaw movements triggered the liquidation of nearly USD 300 million or around IDR 5.05 trillion in 24 hours (exchange rate 1 USD = IDR 16,835). The price briefly touched a local peak of USD 69,988 before dropping nearly 10% to USD 63,030. However, a quick rebound in less than a day fueled speculation that the cryptocurrency’s short-term bias is bullish again.

1. Liquidation of IDR5.05 Trillion in 24 Hours

Data shows that the total liquidation reached USD 299.72 million or around IDR 5.05 trillion. Both long and short positions were affected almost equally, reflecting the highly risky market conditions. Sharp price movements make it difficult for traders to predict direction in the short term.

Bitcoin (BTC) dropped from USD 69,988 (approximately Rp1.17 billion) to USD 63,030 (approximately Rp1.06 billion). This drop equates to a correction of around 9.94% in a few days. This kind of volatility is typical of the crypto market, especially when liquidity thins over the weekend.

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2. Support USD 62,900 (IDR 1.06 Billion) Holds

The level of USD 62,900 or around Rp1.06 billion was again defended by buyers. This area has been an important daily close since early February and is often referred to as the “mother candle” by technical analysts. The holding of this level strengthens the short-term bullish argument.

Bitcoin price bounced back about 7.71% from the USD 63,000 area in less than 24 hours. This quick rebound indicates significant buying interest in the support zone. If support remains firm, further upside opportunities are open.

3. H4 Structure Shows Bullish Bias

On the 4-hour chart (H4), the price structure shows a break above the previous lower high at USD 68,698 or about Rp1.15 billion. After the retracement, the price rallied back from the USD 63,000 zone. The 78.6% Fibonacci level at USD 64,100 (approx. IDR 1.08 billion) was successfully recaptured.

This reclamation of Fibonacci levels is a positive technical signal. In addition, the increased spot volume indicates the rally is not just a liquidation hunt. The combination of price structure and volume reinforces the short-term bullish bias.

4. Risk Remains, New York Session to Decide

Although the short-term structure looks positive, weekend volatility remains a risk. The New York trading session on Monday is expected to determine the continued direction of the week. If selling pressure reappears, BTC could test support again.

In addition, macro conditions and global sentiment continue to influence crypto movements. Bitcoin (BTC), as the largest asset in the cryptocurrency market, is often a barometer of the direction of altcoins such as Ethereum (ETH) and Ripple (XRP). Therefore, the next move will largely depend on volume and continued momentum.

Overall, this week’s volatility was a test for traders and investors. Support of IDR1.06 billion is the main fortress before a potential deeper decline. If it survives, the opportunity to rise back towards Rp1.15-Rp1.17 billion remains open.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash beforeinvesting. All activities of buying and selling Bitcoin (BTC) and other crypto asset investments are the responsibility of the reader.

Reference

• AMBCrypto. Bitcoin whipsaw liquidates nearly $300 mln in 24 hours – What comes next. Accessed on March 2, 2026.