Flash: $214M in long positions wiped out in four hours as Bitcoin drops below $77,000

A sharp Bitcoin drop below $77,000 triggered $214M of long liquidations within four hours, signaling forced de-risking and thin market liquidity. The scale and speed of liquidations typically tighten risk limits across venues, raise funding and volatility sensitivity, and can spill over into broader crypto beta as leveraged positioning is reduced and market makers widen spreads in the near term.