Overview
- Bitcoin fell below $70,000 and briefly touched roughly $67,500–$67,800 Friday, triggering a rapid unwind of leveraged positions that pressured prices lower.
- Data providers reported about $1.4–$1.64 billion of liquidations over 24 hours, with roughly 85–89% of losses coming from long (bullish) bets and large single‑trade closures amplifying the move.
- U.S. spot Bitcoin ETFs recorded consecutive net outflows in the days before the crash, removing a key pool of institutional buying that funds use to buy or sell on‑chain and weakening demand.
- On‑chain liquidity also thinned as stablecoin supply contracted by roughly $14.2 billion over 30 days, reducing retail and trading funding that normally cushions large sell orders.
- The slide was intensified by hotter U.S. inflation that raised December Fed‑hike odds and by a shock to tech sentiment after Nvidia’s CEO resignation, and markets will watch next Fed signals and inflation reports for direction.