Bitcoin slips below $78K as longs absorb $270M hit
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Bitcoin fell below $78,000 after a cascade of long liquidations wiped out roughly $270 million in positions. The mass liquidation indicates a significant deleveraging of bullish derivative exposure, amplifying intraday volatility. This forced selling exerted immediate downward pressure and diminished short‑term upside momentum. Market risk remains elevated until buying interest absorbs the excess supply and key support levels stabilize.
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