US EditionBitcoin plummets, driving $2 trillion tumble in crypto market value
Bitcoin and Ether declines led to a $2 trillion market loss since October, driven by ETF outflows and $1 billion in bitcoin liquidations, data shows.
- On Thursday, Bitcoin plunged to $63,295.74, its weakest level since October 2024, as the global crypto market lost $2 trillion since early October, CoinGecko data showed.
- US spot bitcoin ETFs recorded outflows exceeding $3 billion in January, with analysts linking this and Kevin Warsh, Federal Reserve chair pick, to reduced liquidity tailwinds.
- Roughly $1 billion in bitcoin positions were liquidated in the past 24 hours, data from CoinGlass show, while Ether fell more than 13% to $1,854 late on Thursday after steep losses.
- Shares of companies holding bitcoin and other digital assets dropped as the S&P sank to a seven-week low and the Nasdaq slid to its lowest in more than two months on Thursday.
- As David Goldman wrote, `Rather than giving investors reason to buy, traders are seeing that fear as a reason to sell`, and Goldman noted these flushes serve to clear excess leverage below $94,057.
17 Articles
17 Articles
Crypto: Too Early to be Greedy - ActionForex
The crypto market cap has lost more than 8% in the last 24 hours to $2.22T, dropping to $2.09T at its lowest point. The Crypto fell below last April’s lows and rolled back to levels last seen in September 2024. The market did not hold on to the strong line that had served as support and resistance for more than two years. Either this is a switch to panic mode, or we saw a short-term overreaction during a period of reduced liquidity, and cryptocu…
Bitcoin tumbles 20 per cent as £1.7 trillion wiped off global crypto market
More than £1.7 trillion ($2.12 trillion) erased from the crypto market. Bitcoin falls to around £47,000 ($60,000), its lowest in over a year. Institutional selling and global risk fears weigh heavily.Bitcoin has suffered a sharp sell-off, dragging the wider cryptocurrency market into what appears to be one of its steepest single-day declines in recent years.More than £1.7 trillion ($2.12 trillion) in market value has been wiped out globally. Bit…
Cryptocurrencies have traditionally benefited from the policy of “cheap money”, but now the situation is changing due to tougher financial conditions.
Coverage Details
Bias Distribution
- 40% of the sources are Center, 40% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
