Bitcoin Plunges Below $78,000 as Over $500 Million in Long Positions Are Liquidated Amid Macro Headwinds

Bitcoin briefly fell below $78,000, wiping out weekly gains and triggering more than $500 million in crypto long liquidations.

The broader crypto market lost about $90 billion, with altcoins like Ethereum, Solana, XRP, and Dogecoin also sliding.

Hotter inflation worries, rising bond yields, and profit-taking pressured risk assets, while spot Bitcoin ETF outflows added to the decline.

U.S. lawmakers continued advancing the Digital Asset Market Clarity Act, but regulatory progress did not prevent near-term selling pressure.