Live updates: Bitcoin falls back to $81,000, with interest rates tumbling as stocks crack — SkimNews
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- Bitcoin rose to nearly $85,000 then fell to $81,800 within 24 hours, leaving it down 2% and below the $82,500 level that some analysts warn could lead to a drop toward $70,000 if broken.
- Short sellers were hit with $173 million in liquidations during Bitcoin's rally, but longs absorbed $210 million of the $222 million in total liquidations over the past 12 hours as prices reversed.
- An $11.8 million Bitcoin long position on Binance was forcibly closed near $83,500, highlighting the scale of leveraged exposure wiped out during the reversal.
- HYPE, DOGE, SOL, and Ether all declined, falling 4.5%, nearly 4%, 3%, and 2% respectively, while XMR bucked the trend, surging 11% to about $650.
- Nasdaq 100 futures dropped 1.1% as Tesla cut its spending forecast and Lam Research issued a weak outlook, adding downward pressure on tech and crypto markets.
Why it matters: The $431 million in liquidations—mostly longs in the final leg down—shows extreme leverage unwinding at a critical technical level; with Bitcoin now below $82,500 and tech sentiment souring, a break below this floor could accelerate selling toward $70,000, threatening near-term stability for leveraged positions and ETF flows.
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