Crypto Market Liquidations Hit $264 Million as Bitcoin Briefly Drops Below $78,000

Odaily News: Bitcoin fell below $78,000 on Tuesday, hitting a low of $77,603 before recovering to around $78,600. As of 11:20 AM Eastern Time on Tuesday, its market capitalization stood at approximately $1.58 trillion.

The latest price swing triggered $79 million in Bitcoin position liquidations, with long positions accounting for about 90%. Total crypto market liquidations reached $264 million, including $187 million in long positions and $77 million in short positions.

The U.S. Bureau of Labor Statistics is set to release the August Producer Price Index (PPI) and Consumer Price Index (CPI) on Thursday and Friday, respectively. (Bitcoin.com News)