Crypto prices sold off sharply during overnight trading, sending Bitcoin down from the $78,000 area to below $76,000. Ether also came under heavy pressure, slipping back through $2,100 and trading near the $2,000 mark. The move quickly spilled into derivatives, where liquidation totals rose fast over a short window.
Bitcoin loses $76,000 while Ether tests the $2,000 level
According to the source material, selling pressure intensified in the early hours of May 27, 2026, Taiwan time. Bitcoin reversed from the $78,000 level seen on the evening of May 26 and broke through several key price areas on the way down. Traders are now watching whether support can form near $75,000. Ether moved lower at the same time, dropping back under $2,100 as the market focused on whether the asset could hold the round-number $2,000 threshold.
The decline was abrupt. As spot prices weakened, leveraged positions in the futures market were forced to unwind, adding pressure to short-term price action.
$134 million liquidated in 4 hours, with longs taking the brunt
Data cited from platforms including Coinglass showed that total liquidations across the crypto derivatives market reached $134 million over the past four hours. Most of that came from bullish positions caught on the wrong side of the move.
Long liquidations totaled $122 million, accounting for more than 90% of the overall figure, while short liquidations came in at about $12 million. The breakdown points to a one-sided washout in leveraged long exposure, with forced closures accelerating the downside move.
Market focus shifts to nearby support levels
The immediate focus is on two levels: whether Bitcoin can stabilize near $75,000 and whether Ether can continue defending $2,000. The source also noted that market volatility has increased recently, making leverage control a central concern for participants in derivatives trading. For now, price action and liquidation data remain the main signals traders are tracking.