Bitcoin falls below $80,000 as $200 million in leverage unwinds in an hour
AI summary
Bitcoin dropped below $80,000 on Saturday as over $200 million in crypto positions were liquidated within a single hour. Longs betting on higher prices made up $191.33 million of the total, and Ethereum fell alongside BTC. The total crypto market cap is down 4.06% over the past 24 hours, a sharp deleveraging event that traders will watch for further cascading liquidations.
