Bitcoin Dives Below $75K for First Time in a Month, Crypto Liquidations Hit $917M in 24 Hours

Bitcoin dipped below $75,000 for the first time in over a month early Saturday (May 24), hitting a low of $74,344 before recovering to around $75,500, according to price data. The cryptocurrency is currently down 1.8% over the last 24 hours.

The sharp decline triggered a wave of liquidations across the crypto futures market. According to CoinGlass, $917 million worth of positions were liquidated in the past 24 hours, with Bitcoin accounting for $371 million and Ethereum contributing approximately $261 million. Long positions dominated the liquidations at $827 million.