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Crypto longs lose $500 million as bitcoin slides to $78,000, SOL and XRP down 5%

Crypto longs lose $500 million as bitcoin slides to $78,000, SOL and XRP down 5%

Crypto bulls betting on higher prices nursed over $500 million in losses as bitcoin slipped to near $78,00 in Asian morning hours Saturday.

$BTC was down 3.2% over 24 hours, per CoinDesk data, reversing all gains from the past seven days where the asset briefly traded above $82,000.

Solana (SOL) dropped 5% to $86.98 and is now down 7% over the past seven days. XRP slid 4.3% to $1.41. Ether ($ETH) lost 3.3% to $2,189, with its weekly decline widening to 5.3%, the worst among the majors. BNB held up better, down 3.9% on the day but still up 1.1% over the past seven days. Dogecoin slipped 4.2% to $0.1095.

CoinGlass data showed $581 million in total liquidations over 24 hours with $552 million of that wiped from long positions and just $28…

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