Bitcoin Price Drops Below $76K as Traders Caught Off Guard in Sharp Sell-Off

Bitcoin's price plummeted from $79,500 to below $76,000 in a sharp sell-off that caught leveraged traders off guard.

The drop triggered approximately $547 million in crypto liquidations before buyers stepped in, with long positions taking the heaviest hit at over $659 million in forced closures.

Analysts warn of downside targets between $71,000 and $68,000 if selling pressure continues, citing heavy positioning among bullish traders as the main trigger for the decline.