Bitcoin Retreats Below $80,000 Liquidating $300 Million in Futures Bets
Bitcoin Falls Below $80,000 Triggering $300M in Liquidations Bitcoin retreated below $80,000 on May 8, triggering approximately $300 million in futures contract liquidations, according to CoinDesk. The drop followed US military strikes on Iran that briefly pushed oil prices above $100 per barrel, sparking risk-off sentiment across markets and a shift toward bearish positioning in crypto futures. CryptoQuant data indicates traders are taking profits into strength. Analysis firm Enflux linked the move to easing tensions in the Strait of Hormuz, while Glassnode argues that Bitcoin has reclaimed key on-chain support levels despite the price decline. ...