Bitcoin slips below $80K as liquidations top $342 million
- —$342.38 million liquidated across 83,748 traders, 65% longs
- —Market cap down 2.5% to $2.75 trillion, $68.75 billion wiped out
- —BTC support at $79,172 and $78,416, downside target $76,269
- —Whales sold about 160,000 ETH worth $348 million; ETH ETFs lost $170 million
Why it matters: Losing $80K and rising ETH exchange balances raise the risk of cascading liquidations and a test of $76K for bitcoin.
Source: Blockmedia