Bitcoin Briefly Falls Below $77,000 as $500 Million in Longs Liquidated in an Hour
Suehyeon Lee
Summary
- Bitcoin briefly fell below the $77,000 level during a sharp selloff.
- 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 amid a sharp selloff, triggering a wave of long-position liquidations.
The Kobeissi Letter said on May 17 that Bitcoin slipped under $77,000 at one point during heavy 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.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
