Overview
- Bitcoin fell to roughly $82,000 on Friday after breaking below $86,000 in Asia, extending a weekly slide of about 8% and marking the lowest levels since April.
- About $1.2 trillion in crypto market value has evaporated over six weeks, reflecting a sharp deterioration in risk appetite tracked by CoinGecko.
- Spot crypto ETFs saw sizable redemptions, including $903 million from Bitcoin funds and about $262 million from Ethereum products, as liquidations neared $2 billion.
- A reversal in AI and tech shares after Nvidia’s strong results fed a broader selloff, while stronger-than-expected U.S. jobs data complicated prospects for a December Fed rate cut.
- Technical and sentiment gauges deteriorated further, with Bitcoin flashing a ‘death cross’ and fear indices plunging to extreme readings, signaling entrenched bearish momentum.