Bitcoin has rallied approximately 40% from its July low near $57,800, renewing expectations that the cryptocurrency may have established a market bottom after several months of consolidation. BTC was trading near $80,200 on Aug. 27. However, the recovery has brought the cryptocurrency back into a major resistance zone that previously preceded a sharp sell-off. Technical indicators and derivatives-market data suggest the rally could face a significant correction unless Bitcoin breaks decisively above that resistance. Bitcoin liquidation data highlights downside risk Bitcoin's liquidation heatmap shows a larger concentration of leveraged positions below the current market price than above it. The nearest downside liquidity cluster is located around $77,500. According to CoinGlass, approximately $392.