Bitcoin slips under $77,000 as $400M in longs get wiped out in an hour
Bitcoin has dropped below $77,000, and the fall came with a brutal flush: $400 million in crypto long positions were liquidated in just 60 minutes, according to WatcherGuru. The twin headlines put leveraged bulls on the back foot and hand traders a fresh line in the sand.
Bitcoin just cracked $77,000 — and it did not go quietly. According to WatcherGuru, the world's biggest cryptocurrency slipped beneath that level, with $400 million worth of crypto long positions liquidated inside a single 60-minute window.
The number is the punchline. Liquidations happen when traders who bet on higher prices get force-closed by exchanges after the market moves against them. Four hundred million dollars of that in one hour means a lot of leveraged buyers were caught leaning the wrong way at the same time.
Crypto longs are the crowd that profits when prices climb. When those positions hit their liquidation thresholds, exchanges sell them off automatically — which adds fresh selling pressure right when the market is already sliding. That's how one push lower can snowball into a cascade.
WatcherGuru framed the move as breaking news, and the timing tells the story: the price break and the liquidation wave landed together, not hours apart. The $77,000 line now becomes the level traders will be staring at to see whether buyers step in or the flush keeps running.
TopicsBitcoin · BTC · WatcherGuru
Written by Paparazzi with AI. Not financial advice.