Bitcoin Drops Toward $76,000 as Crypto Market Liquidations Surge Near $600 Million

Bitcoin traded down to $76,571, after hitting a low of $76,000, amid an escalating cascade of forced liquidations across digital asset exchanges. The cryptocurrency fell 3.00% within a single hour from a high of $78,936, expanding its 24-hour loss to 5.02%. Initial selling drove $370 million in leveraged position liquidations within one hour, pushing Bitcoin below $77,000 and Ether under $2,300, before total hourly crypto liquidations surged to nearly $600 million. During the slide, long liquidations reached $101 million across Binance, Bybit, and OKX, heavily outpacing short liquidations of $5.26 million.