Bitcoin slips below $84K, triggering $550M in crypto liquidations

The scale of liquidations relative to a modest 2.3% move suggests positioning, not fundamentals, drove the drawdown — a reminder of how much leverage now sits behind bitcoin's price. The Hyperliquid short suspicion points to perp venues as the pressure point, where a single large position can cascade across the market. Whether those shorts were opportunistic or directional, and whether forced selling exhausts itself, is the open question.