Overview
- Bitcoin dropped to roughly $81,000, erasing nearly $10,000 in a day and testing support near its November low, according to CoinDesk.
- Forced unwinds swept derivatives markets with up to $1.75 billion liquidated over 24 hours and about $777 million cleared in one hour, largely long positions, per CoinGlass data cited by CoinDesk and CoinCentral.
- Drivers cited across coverage include the Fed holding rates with a cautious tone, heightened U.S.–Iran tensions, tariff headlines, and weak tech earnings such as Microsoft’s slide.
- Betting markets swung toward Kevin Warsh as President Trump signaled a pending Fed chair nomination, a shift traders viewed as less dovish than other possibilities, CoinDesk reported.
- Spot bitcoin ETFs logged recent net outflows, sentiment fell into extreme fear, and analysts warned that losing the $84,000–$80,000 band could open a path toward the mid-$70,000s or roughly $70,000.