Bitcoin: $500M Longs Liquidated as Price Drops Below $77K
Bitcoin falls below $77,000 after $500 million in levered long positions liquidated in 60 minutes, with bearish signals on the 4h chart including EMA50 resistance.
SourceAnalysis
Bitcoin fell below $77,000 after more than $500 million in levered long positions were liquidated within 60 minutes.
Bitcoin leveraged liquidation cascades history shows these events often accelerate downside moves in the broader market.
Price action reveals BTC trading inside the Bollinger Bands with upper resistance at $81,224.76 while RSI at 32.1 flashes neutral momentum and the MACD death cross at -688.63 reinforces the bearish trend, pointing to a likely test of EMA50 support at $79,405.73 before any sustained recovery in this impact of $500M+ long liquidations on BTC price scenario.
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