Bitcoin drops below $80,000 as $335 million in crypto liquidations occur amid tech stock selloff.
Macro & Markets ·
Bitcoin traded below the $80,000 level as crypto markets experienced sharp declines. Over the preceding 24 hours, liquidations across the sector reached $335 million, coinciding with a broader selloff in technology stocks that put pressure on digital assets alongside equities.
The liquidation cascade reflected increased leverage unwinding and margin call activity across major cryptocurrency exchanges. Ethereum joined Bitcoin in declining during the same period, suggesting broad-based weakness rather than isolated movement in a single asset.
It remains unclear whether the liquidations were concentrated among particular trading pairs or strategies, or what specific catalyst—whether technical breakdown, macro headwinds, or fund redemptions—triggered the initial move. The precise correlation between tech stock movements and crypto price action on the day has not been quantified in available reports.