Bitcoin drops to $87,880 with over $60 million in leveraged longs wiped out before weekly market open

Bitcoin fell to $87,880, triggering more than $60 million in liquidations of leveraged long positions within 30 minutes. Major altcoins also declined, with Ethereum, Solana, XRP and BNB all posting notable losses as broader macro risks, including a potential U.S. government shutdown and new tariff threats on Canada, weighed on sentiment.