Bitcoin Briefly Falls Below $77,000, Wiping Out $500 Million in Long Positions in an Hour
Summary
- Bitcoin briefly fell below the $77,000 level after a sharp drop.
- About $500 million in leveraged long positions was forcibly liquidated over the past hour.
- Bitcoin was trading at $77,295.79, down 1.15%% from a day earlier on Binance's USDT market.
Forecast Trend Report by Period
Bitcoin briefly fell below $77,000 after a sharp selloff, triggering a large wave of long liquidations.
The Kobeissi Letter wrote on May 17 that Bitcoin slipped under $77,000 at one point amid intense selling. About $500 million of leveraged long positions were forcibly liquidated over the past hour.
Bitcoin was trading at $77,295.79 on Binance's USDT market, down 1.15% from a day earlier.
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