Key Takeaways
- Bitcoin fell below $77,000, triggering $657M in liquidations, $584M of which came from long positions in 24 hours.
- Whale trader Machi Big Brother was liquidated during the crash and immediately opened a new 25x ETH long on 1,825 ETH worth $3.87M.
- The four-day decline followed the CLARITY Act’s Senate Banking Committee advance on May 15, as traders sold into the regulatory news rally.
BTC Flash Crash Wipes $584 Million in Longs
Bitcoin’s latest decline pushed the asset below the $77,000 mark for the fourth consecutive day following a brief rally around the CLARITY Act’s Senate Banking Committee advance last Thursday. According to data, total liquidations reached $657 million over a 24-hour window, with $584 million…
