Overview
- Bitcoin briefly fell into the low $80,000s on Friday and is heading for its steepest monthly drop since 2022, with ether under $2,700 and major tokens down 8–11%.
- Roughly $2 billion in leveraged positions were wiped out in the past 24 hours, following October’s record $19 billion single-day liquidation that weakened market liquidity.
- U.S. spot Bitcoin ETFs recorded about $903 million in one-day net redemptions, and Hong Kong-listed spot funds dropped nearly 7%, signaling sustained institutional selling.
- The total crypto market value slipped below $3 trillion, with about $1.2 trillion erased since early October as investors reassessed risk on fading Fed rate-cut hopes and a tech/AI pullback.
- Bearish signals and mounting pressure are intensifying, with a reported ‘death cross’ on Bitcoin, sentiment gauges in extreme fear, and corporate bitcoin treasuries and crypto-linked stocks facing potential forced selling.