U.S. stocks' worst day in 18 months, BTC falls below $76K overnight!
Put simply, this wasn't a crypto-specific shock—the U.S. stock market crashed first. The Nasdaq plunged 5.52% on Thursday, marking Wall Street's worst day in 18 months. AI stocks led the sell-off, and panic quickly spread to crypto. BTC slid from above $80,000 to $75,200, while ETH fared even worse, dropping nearly 8% in 24 hours. SOL wasn't spared either.
The most gut-wrenching numbers: $1.254 billion in crypto liquidations across the market in 24 hours, wiping out 238,600 traders, with $1.11 billion in long positions. After rallying back to $80,000 on Wednesday on the back of the midterm elections, it gave it all back in a single day. IBIT saw net outflows of more than $1.1 billion for three consecutive trading days. Institutions are heading for the exits, too.
What's wild is that BTC is now down more than 40% from its year-to-date high. Some are saying that after such a big drop, it's a buying opportunity. I'll just say this: the books on AI valuations in the U.S. stock market haven't been settled yet. Crypto is unlikely to escape unscathed. $75,000 is the last fig leaf for now. If it doesn't hold, the next leg down will look even uglier.
#比特币 #以太坊 #BTC #美股 #Liquidations
Put simply, this wasn't a crypto-specific shock—the U.S. stock market crashed first. The Nasdaq plunged 5.52% on Thursday, marking Wall Street's worst day in 18 months. AI stocks led the sell-off, and panic quickly spread to crypto. BTC slid from above $80,000 to $75,200, while ETH fared even worse, dropping nearly 8% in 24 hours. SOL wasn't spared either.
The most gut-wrenching numbers: $1.254 billion in crypto liquidations across the market in 24 hours, wiping out 238,600 traders, with $1.11 billion in long positions. After rallying back to $80,000 on Wednesday on the back of the midterm elections, it gave it all back in a single day. IBIT saw net outflows of more than $1.1 billion for three consecutive trading days. Institutions are heading for the exits, too.
What's wild is that BTC is now down more than 40% from its year-to-date high. Some are saying that after such a big drop, it's a buying opportunity. I'll just say this: the books on AI valuations in the U.S. stock market haven't been settled yet. Crypto is unlikely to escape unscathed. $75,000 is the last fig leaf for now. If it doesn't hold, the next leg down will look even uglier.
#比特币 #以太坊 #BTC #美股 #Liquidations
