Bitcoin fell into the $77,000-$78,000 range during the May 17-18, 2026 selloff, as leveraged long positions were forced out across crypto derivatives markets. The liquidation figure cited in the market material comes from The Kobeissi Letter, which said on May 17, 2026 that Bitcoin briefly slipped below $77,000 while more than $500 million in leveraged long positions were liquidated in 60 minutes.
BREAKING: Bitcoin falls below $77,000 as over $500 million worth of levered long positions are liquidated in 60 minutes. pic.twitter.com/dpRSbuEZSg
— The Kobeissi Letter (@KobeissiLetter) May 17, 2026
Market selloff and liquidation data
The liquidation data is separate from CoinShares’ fund-flow research. It refers to a short intraday derivatives event, not weekly investment-product flows. A separate Phemex summary published on May 18, 2026 at 00:16 reported $526 million in liquidations within one hour, more than $610 million of a broader $660 million 24-hour liquidation total occurred over roughly one to two hours as Bitcoin dropped below $76,700.
Bitcoin’s spot-market status also needs a timestamp. Economic Times reported on May 18, 2026 at 10:54 a.m. IST that Bitcoin had fallen to a two-week low near $76,700 and was trading around $76,764. At the latest live market lookup, Bitcoin was near $76,924, with an intraday range between $76,655 and $78,420.
CoinShares fund flows and macro interpretation
CoinShares’ latest weekly fund-flow report was Volume 286, published on May 18, 2026, under the title “Outflows of US$1.07bn End Six-Week Positive Streak on Iran-Related Risk-Off.” The report was authored by James Butterfill, CoinShares’ Head of Research, and appeared in the CoinShares Research Blog. A KuCoin/BlockBeats summary of the report said digital asset investment products recorded $1.07 billion in net outflows for the week ending May 18, including $982 million in Bitcoin product outflows and $249 million in Ethereum product outflows.
CoinShares’ interpretation is about fund flows and investor sentiment, not the one-hour liquidation cascade. The report linked the weekly outflows mainly to Iran-related geopolitical risk, while noting that CLARITY Act progress helped sentiment in parts of the market. It also said several altcoins still attracted inflows, including XRP, Solana, TON, Sui, Ondo, Chainlink and Dogecoin.
The broader macro backdrop can be cited, but it needs distinct sourcing. Reuters reported on May 18, 2026 that a global bond selloff intensified as the Iran war pushed oil prices higher and raised inflation concerns, with U.S. Treasury yields moving sharply higher. Economic Times separately quoted Riya Sehgal of Delta Exchange, Akshat Siddhant of Mudrex, CoinDCX Research, Vikram Subburaj of Giottus and WazirX’s Markets Desk on the selloff, ETF-flow slowdown, geopolitical pressure and rate-sensitive market setup.
The confirmed reading is therefore narrower: Bitcoin sold off into the $77,000-$78,000 area on May 17-18, 2026; The Kobeissi Letter cited more than $500 million in long liquidations over 60 minutes; CoinShares separately reported $1.07 billion in weekly digital-asset product outflows; and macro commentary linked the pressure to Iran-related risk, higher oil prices, rising yields and shifting rate expectations. The available sources support a timing relationship between those factors, but they do not prove that any single headline caused the full liquidation event.