Crypto Market Loses $90 Billion in an Hour as U.S. PPI Reaches 6%

According to Coinglass and CryptoQuant, a fresh Bitcoin drop below $77,000 came with $600 million in one-hour liquidations, ETF outflows, and continued accumulation by long-term holders and Strategy-related market attention.

BTC

2d ago

Fact Check

All four sources corroborate the core claim. CoinDesk, Odaily (both citing CoinGlass directly), and Investing.com all confirm approximately $580-581 million in total liquidations with ~$552 million from long positions on May 16, 2026. PANews (citing CoinAnk) reports $368 million — the lower bound stated in the claim — which is consistent with a different aggregator or an earlier 24-hour snapshot. The claim's stated range of '$368 million to about $580 million' accurately reflects the spread between these two data sources. Bitcoin and Ethereum leading losses is confirmed by all sources (BTC -3.2% to ~$78,000; ETH -3.3% to ~$2,174). The bond-market stress macro driver is consistently cited across CoinDesk and Investing.com (US 10Y >4.5%, Japan 30Y at 4%, UK long-bond at 28-year high). The claim is well-supported with high confidence.

Summary

Bitcoin fell below $77,000 to $76,901 during a sharp market selloff that triggered about $600 million in liquidations within one hour, according to Coinglass. The new report adds that U.S. spot Bitcoin ETFs saw roughly 13,000 BTC in net withdrawals last week, including more than 4,000 BTC from Ark-linked products, signaling weaker fund demand before the latest drop. At the same time, CryptoQuant data showed continued exchange outflows earlier this year and rising long-term holder supply, which reached about 15.26 million BTC, with analyst Darkfost saying these wallets added around 316,000 BTC over the past 30 days. The article also notes that around 800,000 BTC that left Coinbase last year will cross the six-month holding threshold on May 23, potentially boosting long-term holder supply further, while traders also watched Michael Saylor’s latest post for signs of another Strategy Bitcoin purchase. Strategy currently holds 818,869 BTC, valued at just under $67 billion at the cited market price.

Terms & Concepts

Liquidation: The forced closure of a leveraged trading position when losses push collateral below the required margin level on a trading platform.
ETF: An exchange-traded fund, a market-listed investment product that tracks an asset or basket of assets such as Bitcoin.
Long-term holders (LTHs): Bitcoin wallets or investors that have held coins for an extended period, often used as an indicator of steadier, less reactive market participants.