Crypto longs lose $500 million as bitcoin slides to $78,000, SOL and XRP down 5%
Bitcoin experienced a significant decline, falling to around $78,000 and resulting in substantial losses for crypto investors. Over $580 million in crypto positions were liquidated, primarily affecting leveraged long bets on major tokens. The market downturn was influenced by rising inflation data and shifts in expectations regarding Federal Reserve interest rate policies.
- ▪Bitcoin dropped about 3 percent to near $78,000, reversing its gains from the previous week.
- ▪More than $580 million in crypto positions were liquidated within 24 hours, with 95 percent of the losses coming from long positions.
- ▪The sell-off coincided with a global market reaction to higher inflation data and rising bond yields.
Opening excerpt (first ~120 words) tap to expand
MarketsShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailCrypto longs lose $500 million as bitcoin slides to $78,000, SOL and XRP down 5%A long-skewed liquidation cascade flushed leverage across the major tokens overnight, with the move tracking a global bond selloff and the worst session for U.S. stocks since March.By Shaurya Malwa May 16, 2026, 7:36 a.m. 2 min readMake preferred on What to know: Bitcoin fell about 3 percent to near $78,000, erasing its gains from the past week and dragging major cryptocurrencies like Solana, Ether and XRP lower.More than $580 million in crypto positions were liquidated over 24 hours, with roughly 95 percent of the wipeout hitting leveraged long bets, led by bitcoin and ether.The sell-off came as global markets reacted to…
Excerpt limited to ~120 words for fair-use compliance. The full article is at CoinDesk.
Discussion
0 commentsMore from CoinDesk
