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Bitcoin drops below $75K, triggering $917M in crypto liquidations, mostly from long traders.

Market News
23 May 2026
Crypto Briefing
View Source
Bearish
pluang ai news

Bitcoin fell below the critical $75,000 support level, causing $917 million in crypto liquidations in one day, with long traders responsible for $834 million of the forced closures. This drop reflects a roughly 40% decline from Bitcoin's peak at $124,000 in October 2025. The $75,000 to $77,000 range is a key support zone, and if Bitcoin fails to hold it, the next major support near $62,800 could trigger even larger liquidations. Investors should watch open interest and funding rates closely to gauge market sentiment and potential future risks.

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