Crypto longs lose $404 million in four hours as bitcoin briefly slips below $80,000
AI summary
Crypto long positions lost $404 million in liquidations over four hours as bitcoin briefly fell below $80,000. Spot bitcoin ETFs also shed $773 million on Thursday and Friday after three straight days of net inflows, per SoSoValue data. The combination of heavy long liquidations and ETF outflows signals weakening demand and raises the risk of further downside for BTC.
