Bitcoin Sinks to $77K Amid Volatility

Bitcoin's recent surge has come to an abrupt end after it dropped to $77,000 following a sharp pullback from almost $80,000 on August 22, 2026. This sudden correction triggered over $475 million in forced liquidations of long positions due to heavy leverage, wiping out many bullish bets and causing total crypto liquidations of about $547 million.

The prior rally was fueled by a short squeeze and supportive macro factors like expanded US Treasury bond buybacks and clearer crypto regulations. Traders are now watching if $77,000 holds as support amid ongoing volatility driven by high leverage in crypto derivatives markets.