Bitcoin Flash Crash: Price Slides Below $77K, Triggering $657 Million in Crypto Liquidations

BTC Flash Crash Wipes $584 Million successful Longs

Bitcoin’s latest diminution pushed the plus beneath the $77,000 people for the 4th consecutive time pursuing a little rally astir the CLARITY Act’s Senate Banking Committee beforehand past Thursday. According to data, full liquidations reached $657 cardinal implicit a 24-hour window, with $584 cardinal coming from agelong positions, a wide awesome that bullish leverage was heavy crowded entering the drawdown.

Source: Coinglass

The sell-off pushed the Fear and Greed Index to an alarming 29, landing squarely successful the fearfulness portion aft sitting astatine a neutral 50 conscionable days prior. Among altcoins, Quant (QNT) fell astir 7% and was trading adjacent $75, approaching its 50-day exponential moving mean (EMA) astatine $72.86. Bitcoin Cash ( BCH) dropped beneath $400, trading beneath some its 50-day and 200-day EMAs.

Bitcoin itself has continued to hover betwixt $76,000 and $76,500 astatine property time, with cardinal method enactment astatine the 50-day EMA of $76,716 and the 200-day EMA astatine $83,513 acting arsenic overhead resistance. The erstwhile large enactment trial came astatine $70,740 connected April 12, 2026, a level bulls volition beryllium watching intimately if the descent continues.

Whale Trader Machi Gets Liquidated and Opens a Fresh 25x ETH Bet

Amid the market-wide flush, serial high- leverage trader Machi Big Brother, the alias of entrepreneur Jeffrey Huang, was liquidated again. As the driblet unfolded, onchain information flagged that the abrupt clang had wiped Machi’s progressive position. Instead of waiting, helium instantly opened a caller 25x leveraged agelong connected 1,825 ETH, worthy astir $3.87 million, with a liquidation terms acceptable astatine $2,086.69.

Machi’s caller 25x agelong presumption connected 1,825 ETH ($3.87M).

Bitcoin.com News previously reported that Machi opened an $86 cardinal BTC and ETH agelong presumption aft losing $73 cardinal crossed six months, a Martingale-style attack of scaling up positions pursuing losses successful an effort to retrieve anterior drawdowns. Huang has present accumulated implicit 335 liquidations, with 262 occurring successful January 2026 unsocial during that month’s volatility spike. His existent liquidation terms of $2,086.69 connected ETH provides a wider buffer than galore past positions, but different sustained limb down successful the broader marketplace could adjacent it quickly.

Spot bitcoin exchange-traded funds (ETFs) person compounded the ongoing unit with information showing BTC spot ETFs recorded a nett outflow of $1.039 billion for the week of May 11–15, snapping six consecutive weeks of nett inflows. Spot Ethereum ETFs posted a abstracted nett outflow of $255 cardinal implicit the aforesaid period, with the combined organization exit reflecting imaginable reassessment of near-term positioning by large marketplace participants.