Bitcoin Drops Below $77K as Global Tensions Spark $266M Liquidations

What Bitcoin Traders Must Watch Before FOMC Week Kicks Off

Bitcoin slips below $77K with US-Iran tensions triggering $266M in liquidations. Whale sells walls at $82K. Here's what's next before FOMC.

Is Bitcoin about to make its next big move — or fall even harder?

Bitcoin hit an intraday low of $76,425 and a high of $77,478 on April 28, 2026. As per CoinGlass, in just 24 hours, over 78,400 traders got wiped out, with total liquidations reaching $266.94 million.

The single biggest hit?  A $7.69 million long position on Binance's BTC/USDT pair. The market is bleeding — and traders want to know what happens next.

What's Dragging Bitcoin Lower Right Now?

Two big forces are working against the price.

First, US-Iran tensions are flaring again. Iran tightened its grip on the Strait of Hormuz, and the US scrapped planned peace talks. Oil prices spiked, risk appetite dropped, and crypto markets felt the pain fast.

Second, whale traders are stacking massive sell orders between $80,400 and $82,000. Market data shows a perfectly spaced wall of orders in that zone, each sitting around $3.3 million. Until Bitcoin punches cleanly through that wall, the road higher stays blocked.

What Bitcoin Traders Must Watch Before FOMC This Week

The Federal Reserve meets on April 29, 2026 — tomorrow. The market is pricing in a 100% chance of no rate change, with the Fed expected to hold rates at 3.50%–3.75% for the third straight meeting. That outcome is fully expected. But what Fed Chair Jerome Powell says at the press conference after the decision matters far more than the decision itself. 

Any hawkish tone could push BTC price sharply lower. A calm, dovish signal could spark a quick move back toward $80,000.

This week also brings major tech earnings — Amazon, Meta, and Google all report. Add Q1 2026 GDP data and March PCE inflation numbers on Thursday, and you have one of the most event-packed weeks of the year. Volatility is coming. Prepare for it.

BTC Price Prediction: Key Support and Resistance Levels

The daily chart shows BTC price sitting right on the 0.382 Fibonacci retracement level near $74,398 — a historically strong support zone. If price holds above $76,000, the next recovery targets are $78,920 at the 0.5 Fib level, and $83,441 at the 0.618 Fib.

The EMAs paint a mixed picture. The 20-day EMA sits at $75,483, the 50-day at $73,491, and the critical 200-day EMA at $82,365. A daily close above the 200-day EMA is what bulls need to prove the recovery is real.

Right now, Bitcoin trades below it. The RSI sits at 57.86 — neither overbought nor oversold — which means price can move sharply in either direction from here.

The 24-hour long/short ratio on major exchanges stands at 0.9335. Binance accounts show a ratio of 0.899. Top traders lean short at 0.9279. The crowd is positioned more for a drop than a rally, which sometimes works as a contrarian signal.

If geopolitical tension eases and the Fed sounds calm, Bitcoin could push toward $83,000–$84,000 within days. If tensions escalate or Powell turns hawkish, a retest of the $73,000 support zone becomes very real.

For long-term holders, the bigger picture still holds. Institutional spot ETF flows show no panic selling. The rising trend from the February lows remains intact.

Short-term traders, though, should wait for a clear breakout above $80,000 or a confirmed bounce from $73,000–$74,000 before making any move. This week demands patience and sharp eyes.

Disclaimer: This article is for information only. It is not financial advice. Crypto is highly risky, and you can lose all your money. Always do your own research before investing in any token.