Bitcoin Price Drops Below $79K Line as Longs Get Torched in $208M Rout
Bitcoin price fell back below $79,000 on Monday after a brief spike to $80,537, down 1% over 24 hours to trade near $78,785. Key TakeawaysBitcoin briefly reclaimed $80,000 before slipping 1% back to $78,785 on Monday following sharp market moves.Derivatives liquidations topped $208 million across crypto, with long positions accounting for $119 million.Bitfinex analysts noted ETF inflows and Treasury yields will dictate whether BTC can break its $82,100 ceiling. Long Liquidations Outpace Shorts Bitcoin price slipped under $79,000 on Monday, just hours after briefly reclaiming the $80,000 level for the first time since Fridays sharp sell-off. Before the decline, bitcoin traded in a tight $79,600 to $80,000 band as markets continued to digest stronger-than-expected U.S. jobs data. By early Sunday evening, bitcoin spiked to $80,537 during a marketwide rally that also pushed zcash and Hyperliquids token HYPE to fresh milestones. The move quickly faded, sending bitcoin into a gradual descent toward $79,250 by early Monday. An attempt to reclaim $80,000 stalled near $79,700, triggering a sell-off that drove bitcoin down to $78,685. By 12:15 p.m. EST, bitcoin hovered around $78,785, down roughly 1% over 24 hours. The pullback pushed market capitalization down to $1.58 trillion, renewing doubts about the durability of gains sparked by the
