Overview
- Bitcoin sank from near $90,000 to an intraday low around $81,000 late Thursday, threatening to break below November’s trough.
- Derivatives saw a cascade of forced unwinds, with more than $777 million in longs wiped out in one hour and roughly $1.6–$1.75 billion liquidated over 24 hours, largely from long positions.
- Pressure built after the Fed kept rates unchanged with limited clarity on cuts, U.S. spot ETF flows turned negative over recent sessions, geopolitical headlines escalated, and gold’s sharp rally flipped into a swift reversal.
- The total crypto market value slipped about 5% to roughly $2.9 trillion as major tokens fell in tandem and options positioning skewed bearish into expiry.
- Crypto‑linked equities such as Coinbase, Circle and Bullish declined, analysts flagged key BTC supports near $84,000, $80,000 and the mid‑$70,000s, and progress on the CLARITY Act failed to buoy sentiment.