Bitcoin briefly dipped below $78,000, triggering approximately $324 million in liquidations, with long positions accounting for roughly $270 million of that total. This correction marks a sharp reversal from last week, when short positions represented 92% of liquidations during the advance above $80,000. Bitcoin longs lost approximately $109 million while Ethereum longs accounted for roughly $70 million. The recovery toward $79,000 now depends on spot demand and ETF flows, which attracted over $2.5 billion across seven consecutive sessions of inflows. The short-term holder cost basis near $70,000 remains a critical support level to prevent a deeper unwind.
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