BTC slips below $78K at EU open with $295M in crypto liquidations

Bitcoin touched $77,819 as European markets opened Monday, pulling back sharply from the $80,000 threshold it had been testing — before any clear macro, regulatory, or ETF catalyst had surfaced. Total crypto liquidations over the prior 24 hours reached $295 million according to CoinGlass, with <a class="ticker-mention" href="/en-US/token/btc">BTC</a> market cap sitting near $1.56 trillion on $32.1 billion in daily volume.

The $80,000 zone was already structurally loaded. On April 23, BTC had pushed to $79,470 before retreating to $78,200, a move analysts tied to forced short liquidations rather than fresh spot conviction. Monday&#x27;s rejection reinforces that the level is more about positioning density than directional momentum.

The immediate question is whether this was a leverage flush — which can clear crowded longs while leaving broader market structure intact — or the opening of a wider risk-off move. Market-structure analysis places…