Bitcoin tested resistance near $65,000 on Monday, August 10, as the crypto market absorbed another round of leverage-driven liquidations and traders positioned cautiously ahead of this week’s U.S. inflation data. The liquidation cascade that wiped out 75,626 traders in 24 hours underscores how thinly-stretched the market remains despite institutional ETF demand holding steady.
Bitcoin’s $65K test amid narrow ranges
Bitcoin opened Monday at $64,848.91 and recovered to $64,935.75 as of 8:43 a.m. ET, a move that reflects the market’s difficulty sustaining breakouts at key resistance. Ethereum (ETH-USD) opened at $1,908.93, down 0.3% from Sunday’s opening, while secondary tokens including XRP and Dogecoin also faced selling pressure ahead of the week’s macro catalyst.
The narrow range masks an underlying volatility in liquidations rather than directional conviction. Traders are carrying high leverage into a period where volatility is expected to spike on inflation data, a dynamic that leaves the market vulnerable to sudden moves in either direction if the macro print surprises consensus.
75K liquidations in one day: What this tells us
A total of 75,626 traders were liquidated in the 24 hours ending Monday morning, per on-chain analytics captured across major exchanges. The dollar value of that liquidation totalled $212.97 million — a significant single-day wipeout even by volatile crypto standards.
The liquidation spike points to two underlying dynamics: first, the market is running with elevated leverage across multiple timeframes and exchanges. Second, the narrow price ranges that have characterized August so far are concealing intraday volatility that is punishing overextended positions on both long and short sides of the market.
This pattern is typical of macro pivot points — when traders expect a catalyst (in this case, inflation data) but cannot agree on direction beforehand, leverage accumulates until volatility forces it out. The liquidation cascade suggests that volatility is already arriving, even if headline price moves remain modest.
Inflation data watch: The catalyst everyone is pricing in
This week’s release of July Consumer Price Index (CPI) data is the dominant macro event in crypto traders’ sightlines. A hotter-than-expected print would confirm that inflation remains sticky despite recent Fed messaging, potentially extending the current period of elevated real rates and risk-asset pressure. A cooler reading would reprieve rate-cut expectations and likely support a multi-asset rally.
Crypto has already discounted some outcome here — the fact that Bitcoin has held above $60,000 suggests traders are not deeply pessimistic on the data. However, the absence of a clear directional conviction, and the spike in leveraged liquidations, both point to a market that is nervous about the size of potential surprise, not just the direction.
ETF flows persist even as price stays stuck
Against the backdrop of liquidations and macro uncertainty, U.S. spot Bitcoin ETFs continue to book inflows without down days extending into the second week of August. This divergence — rising institutional inflows meeting market-wide deleveraging — is not contradictory. It reflects different investor cohorts with different time horizons: leveraged traders forced to exit on tight stops, and longer-dated institutional allocators treating weakness as accumulation.
The distinction matters for what happens when volatility subsides. If ETF inflows continue and leverage clears, the path back up becomes less crowded with stop-loss sellers, making rallies more sustainable.
What happened to BIP-110
The scheduled hard-fork debate that dominated August 8-9 news flow concluded over the past 24 hours with an outcome that required no contentious chain split. Bitcoin’s original chain retained approximately 99.85% of all hashpower, per network monitoring. The BIP-110 minority fork managed only two blocks total before falling 80+ blocks behind, a gap that eliminated any economic viability for miners to continue mining the alternative version.
The fork is now functionally concluded: Bitcoin continues unchanged, the minority branch is abandoned, and the network has moved past its most contentious governance debate of 2026 without disruption.
Bottom line
Bitcoin’s $65k test matters less than the volatility and liquidations surrounding it. A market that is forced to deleverage on tight stops while institutional flows arrive is a market in transition — not yet committing to a new trend, but clearing excess risk. Watch this week’s inflation data release for confirmation of direction. Until then, the liquidation pattern suggests the market expects volatility but has not yet repriced significantly based on that expectation.
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Sources and review
This article was checked against the primary or authoritative sources below .
- Bitcoin and ethereum prices today, Monday, August 10, 2026: BTC breaking past $65,000 yet again — Yahoo Finance
- Bitcoin Drops 2% as Ethereum, XRP, Dogecoin Slide Ahead of Crucial Inflation Data — Benzinga
- Crypto News. August 10, 2026 — Crypto Integrated
- Bitcoin Technical Analysis Report | 10th August 2026 — ZebPay
Frequently asked questions
Bitcoin broke above $65,000 early in the session, reaching $64,935.75 as of 8:43 a.m. ET. This follows opening at $64,848.91, marking a narrow range on the day as traders remain cautious ahead of this week's inflation data.
A total of 75,626 traders were liquidated in the past 24 hours for $212.97 million according to on-chain analytics. The spike reflects elevated leverage in the market as Bitcoin tested key resistance levels near $65k, with volatility triggering automatic position closures.
This week's inflation data release is the primary trigger expected to move crypto markets. Traders are positioned cautiously ahead of the print, as a hotter-than-expected inflation reading could extend the current macro headwinds facing risk assets.
Spot Bitcoin ETFs have extended their inflow streak into the second week of August without a single down day. While daily flows can be volatile, the multi-day trend remains positive even as price action stays narrow and leverage-driven swings persist.
The contentious BIP-110 hard fork concluded with Bitcoin's original chain decisively dominant. Approximately 99.85% of hashpower remained with Bitcoin, while the BIP-110 branch managed only two blocks and fell 80+ blocks behind before becoming economically non-viable for miners.
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