Bitcoin slides below $76,000 as major whale short returns to profit

Bitcoin fell below $76,000, returning a major whale short to profit while triggering forced selling that wiped out $100 million in long positions across crypto derivatives platforms. On-chain monitoring by analyst Ai Yi (@ai_9684xtpa) showed the trader known as "先定10个大目标" holding 1,830.724 BTC short, valued at about $139 million, with an average entry of $76,397.56 and roughly $800,000 in floating profit. The same address also holds a 12,756.739 ETH short worth about $30.25 million at an average entry of $2,371.57, carrying a floating loss of around $30,000. It is unclear whether the address has fully closed, reduced, or reopened the shorts. Cascading long liquidations amplified the move, consistent with prior stress around the $75,000–$76,000 zone tracked by CoinGlass, including heavy long-side losses in earlier May and August episodes. Bitcoin sharply dropped from around $79,500 to below $76,000, causing approximately $547 million in liquidations, mostly impacting leveraged long traders with $659 million forced exits. This sudden decline revealed market fragility and triggered auto...

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