Bitcoin Crashes Below $77K as Treasury Bond Buyback Fails
Bitcoin's price plummeted by $1,200, dipping below $77,000 and now trading at $77,260.27, down 3.0% over 24 hours.
The selloff came as the Treasury's $6 billion bond buyback failed to stem the tide, with August Producer Price Index data coming in hotter than expected.
More than $190 million in long positions were liquidated within an hour of the move, highlighting the extent of market uncertainty.