$150M Bitcoin Longs Liquidated as Price Drops Below $77,000

Bitcoin's latest decline has led to significant liquidations in long positions. According to Jordan Kerridge, $150 million in Bitcoin longs were liquidated after the price dropped below $77,000. The cryptocurrency fell to around $76,400, marking a 3 percent daily loss before it started to rebound.

This decline is part of a larger trend, as noted by Kerridge in previous analyses. He has highlighted poor planning and emotional trading as leading factors behind crypto investor losses, rather than coin selection. Additionally, Bitcoin had closed another weekly candle below the 50-week moving average after facing rejection at a key level.