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Bitcoin and Other Crypto Assets Sink in Flight From Risk
Bitcoin fell over 4% below $87,000 amid a month-long market retreat driven by leveraged selling, fading retail demand, and weak liquidity after AI-fueled equity volatility, analysts said.
- On Thursday, Bitcoin plunged more than 4% to below $87,000, extending a more-than-a-month retreat across the crypto market.
- Weeks of unwinding by fast traders and lingering October positioning left markets vulnerable after October’s liquidation forced out more than $19 billion in leveraged positions, while large holders sold over $20 billion since September.
- Order books never fully rebuilt and, as a result, Bitcoin dropped almost ten percent over the last five days, hollowing out liquidity across major venues.
- Investors wiped out $1 Trillion in crypto market value and rotated into gold as AI stalwarts and the S&P 500 fell on Wednesday.
- Following ETF-led adoption, Bitcoin has tended to track Wall Street, and analysts warn it could continue falling amid a tech selloff this month.
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Bitcoin and other crypto assets sink in flight from risk
Bitcoin and ether slumped to multi-month lows on Friday, with cryptocurrencies swept up in a broader flight from riskier assets as investors worried about lofty tech valuations and bets on near-term U.S. interest rate cuts faded.
·Canada
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Bitcoin Is Getting Absolutely Crushed Right Now
Bitcoin dipped well below $87,000 on Thursday, continuing a devastating, weeks-long slump. The cryptocurrency is down almost ten percent over the last five days alone, wiping out much of its gains over the last seven months. It’s lost just over 30 percent of its value since hitting an all-time high of over $126,000 in early October. The crypto industry as a whole has wiped out a staggering $1 trillion in market capitalization — and that’s under …
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Total News Sources32
Leaning Left4Leaning Right3Center4Last UpdatedBias Distribution37% Left, 36% Center
Bias Distribution
- 37% of the sources lean Left, 36% of the sources are Center
37% Left
L 37%
C 36%
R 27%
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