Bitcoin Slips Below $78K as CLARITY Act Rally Fades, Sparking $649M Wipeout
Share:
Bitcoin plunged below $78,000 after a >$4,000 reversal from near $82–83K as CLARITY Act optimism collided with inflation, rising oil and Treasury yields, sparking a sharp risk-off in crypto markets. Heavy leveraged selling wiped out roughly $649M overall with $620.62M in long losses and 95% of 24‑hour liquidations hitting longs, of which BTC led $215.92M, underscoring short-term price risk and sensitivity to macro factors.
Predictions Markets
See what traders are focused on
- Bitcoin fell below $78K as CLARITY Act optimism collided with a sudden risk-off crypto selloff.
- Long traders absorbed $620.62M in losses as 95% of 24-hour crypto liquidations hit longs.
- BTC led $215.92M liquidations as inflation, oil, and Treasury yields pressured risk assets.
Bitcoin’s sharp Thursday evening rally quickly turned into one of the market’s most painful reversals this month. The asset dropped by more than $4,000 after briefly climbing toward $82K.
The move pushed Bitcoin below $78K, its lowest level since the start of the month. The selloff came as regulatory optimism from the CLARITY Act collided with inflation fears, rising yields, and heavy leverage.
Bitcoin Loses Momentum After CLARITY Act Boost
Bitcoin had already struggled to hold higher levels before the latest drop. The cryptocurrency jumped close to $83K on May 7, but sellers pushed…
Read The Full Article Bitcoin Slips Below $78K as CLARITY Act Rally Fades, Sparking $649M Wipeout On Coin Edition.
Read More
Crypto Market Crash Triggers $1.5 Billion Bitcoin, Ethereum, XRP Liquidations
