Bitcoin falls below $77,000 as $547M in leveraged positions get wiped out

Bitcoin dropped below $77,000 after roughly $547 million of leveraged positions were liquidated across exchanges. The mass liquidations—mostly of long positions—amplified selling pressure and drove a rapid break of key price levels. This underscores persistent market fragility from high leverage, implying elevated short-term downside risk and a heightened chance of further cascade liquidations if volatility continues.