Bitcoin slips below $77,000 as $718.5M in crypto bets get wiped out

Bitcoin broke below $77,000 on Thursday, Nov. 5, touching $76,887.04 at 10:13 a.m. ET — 15:13 UTC. The coin was down 4.2% across the prior 24 hours, a window that had seen it climb as high as $81,003.70 before the floor gave way.

The wreckage spread well beyond price charts. Crypto liquidations across that same 24-hour stretch totaled $718.5 million, according to tokenpost.com, with 139,869 traders swept up. Longs did the heavy bleeding: $595.54 million of the total, or 82.9%. Shorts accounted for $122.96 million.

One caveat worth keeping straight — that $718.5 million is not a Bitcoin-only figure. It tracks leveraged positions across multiple assets and trading venues, so it does not isolate how many BTC positions blew up or what they were worth. It also is not a tally of spot-market selling.

And it does not explain the drop. The price slide and the liquidation number describe activity happening at the same time, not a chain of cause and effect. The liquidation figure is a snapshot of a rolling 24-hour window, which means later readings will shift as that window rolls forward.

What's left is a market that spent Thursday morning testing a level it had been comfortably above a day earlier. Bitcoin's break under $77,000 put the $76,887 print on the board, with the 24-hour high of $81,003.70 now sitting roughly $4,000 overhead.