Bitcoin Tumbles Below $76,000, Triggering $547 Million in Liquidations

Bitcoin's price dropped from near $79,500 to below $76,000 over the weekend, triggering approximately $547 million in liquidations across the cryptocurrency derivatives market. Long positions accounted for $659 million of the forced exits.

The selloff came despite five consecutive days of spot Bitcoin ETF inflows totaling $1.92 billion for the week, alongside $697 million into Ethereum funds.

DeFi lending protocol Term Labs confirmed a governance exploit draining an estimated $8.5 million from its vaults, with security firms tracing 2,843 ETH and 1.68 million USDC to an attacker wallet initially funded through Tornado Cash.