Overview
- Bitcoin sank below $88,000 in a fast intraday sell-off before recovering toward the $89,000–$90,000 area after President Trump said planned EU tariffs would be delayed.
- Roughly $800 million to $1.08 billion in crypto positions were liquidated over 24 hours, mostly longs, with about 167,000 to 183,000 traders forced out, according to CoinGlass tallies.
- The European Parliament suspended work on legislation tied to an EU–US trade deal over Greenland-related tensions, adding to risk-off sentiment as bond yields climbed and gold hit records.
- Spot crypto ETFs recorded heavy outflows during the downturn, including a reported $713 million pulled from U.S. Bitcoin and Ether funds in a single day, while XRP products saw a $53 million net withdrawal.
- On-chain data highlighted shifting supply dynamics, with a 909 BTC transfer from a 2013 wallet and CryptoQuant reporting that short-term holder whales now control marginal supply.