Bitcoin: Breaks Below $78000 With $80B Market Cap Loss
Bitcoin drops $3800 in 48 hours below $78000, erasing $80 billion market cap and triggering $620 million in long liquidations as 4h chart shows bearish MACD death cross.
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Bitcoin plunged $3800 in 48 hours and broke below $78000, wiping out $80 billion in market cap over two days while $620 million in long positions were liquidated in the last 24 hours.
With price now at $77828.91 the 4h structure sits in a bearish trend as it trades beneath the EMA50 at $80083.05 yet holds above the EMA200 at $77265.18. The MACD registers a clear death cross at -520.8 while RSI at 33.06 remains neutral, and price continues inside the Bollinger Bands with the lower support at $77694.2 acting as immediate floor. This confluence points to further downside pressure toward the 200-EMA before any relief rally can develop.
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