Bitcoin Drops Below $75,000, 24-Hour Liquidations Approach $1 Billion

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Release Time: 05/23/2026 21:19:02

Summary

Bitcoin news broke early Saturday as Bitcoin dipped below $75,000, hitting $74,344 before recovering to $75,500. Over the past 24 hours, Bitcoin analysis shows a 1.8% decline, with a 2.7% weekly drop. Ethereum fell 2.7% to $2,059, and Solana dropped over 3% to $84. CoinGlass reported $917 million in liquidations, including $371 million from Bitcoin and $261 million from Ethereum. Long positions accounted for $827 million of the losses. Yellow Capital CEO Diego Martin said geopolitical shocks now first impact U.S. Treasury yields, then risk appetite and ETF flows, and finally Bitcoin prices.

CoinDesk reports:

Bitcoin dropped as low as $74,344 during early Saturday trading before slightly recovering to around $75,500. Over the past 24 hours, it fell 1.8%, and over the past week, it declined 2.7%.

Major cryptocurrencies are weakening in tandem.

Ethereum fell 2.7% today, with the latest price around $2,059. Solana dropped over 3%, trading near $84. Bitcoin, which reached $80,000 last week, subsequently triggered a broader pullback in the cryptocurrency market.

Clearing volume approaches $1 billion

CoinGlass data shows that the total liquidations in crypto derivatives over the past 24 hours reached $917 million, with approximately $371 million in Bitcoin-related liquidations and $261 million in Ethereum-related liquidations.

Long positions are under pressure

In this round of liquidations, long positions dominated, with related liquidation amounts totaling approximately $827 million. Diego Martin, CEO of Yellow Capital, said that geopolitical shocks are now first transmitted to U.S. Treasury yields, then affect risk appetite and ETF fund flows, and ultimately pressure Bitcoin prices.

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