Bitcoin (BTC) fell to about $75,600, its lowest level in seven weeks, as crypto derivatives liquidations totaled $1.26 billion over 24 hours, signaling a broad leveraged unwind.
Long positions accounted for 88.6% of the total, indicating that leveraged bets on higher prices were abruptly closed during the decline.
The broader crypto market stood at $2.58 trillion, down 4.9% over 24 hours. Market breadth was sharply negative: 229 assets fell while 22 rose. The same 24-hour snapshot showed Ether down 7.6% and Solana down 6.8%.
Bitcoin’s decline coincided with a wider sell-off in U.S. technology stocks, which may have added cross-market pressure to digital assets. The concentration in long positions shows how leveraged bullish bets can unwind quickly during a sharp market move. The decline also pointed to reduced short-term confidence in maintaining higher Bitcoin prices.
Market participants were watching whether Bitcoin could reclaim and hold above $76,000.
Enna Lee
Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to [email protected].
