en.bitcoinsistemi.com
The world’s largest cryptocurrency, Bitcoin ($BTC), has experienced a sharp decline, falling from $83,000 to below $80,000, down nearly 3% in just a few hours. At the time of writing, $BTC is trading at $79,600, down 3.93% on the day.
The sudden drop comes amid a broader risk-off sentiment and ongoing liquidity shifts in global markets ahead of Wall Street’s opening bell, after $BTC showed resilience when markets across the board were slumping following the U.S. tariff announcement last week. Over $390 million worth of crypto positions were liquidated in the past 24 hours, including $325 million in long positions, according to CoinGlass data. Bitcoin accounted for $121.4 million of those liquidations, followed closely by Ethereum ($ETH) with $108.6 million.
South Korea’s leading exchange Upbit is currently listing Bitcoin at a 1.83% premium, while the overall crypto market cap has fallen to $2.59 trillion.
Ethereum has been particularly hard hit, falling to its lowest level since October 2023. $ETH is currently down 65% from its all-time high, further weighing on investor sentiment.
“After a delayed reaction on Friday, cryptocurrencies are finally starting to crack,” said economist and longtime crypto skeptic Peter Schiff. “Bitcoin just hit a weekly low of $81,000. It could be a long day for those stuck in Bitcoin ETFs.”
Other major altcoins also took a hit, with Solana (SOL) seeing $19.5 million in liquidations, XRP $8.6 million, and Dogecoin (DOGE) $7.8 million.
*This is not investment advice.