Bitcoin
Why Bitcoin is down 1.7% today
Analysis
Bitcoin fell 1.7% over the past 24 hours as selling pressure intensified from a leverage unwind, with liquidations accelerating and dragging BTC and ETH lower, according to CoinDesk. The drop was compounded by weaker spot activity tied to an exchange outage and a broader risk-off tone in crypto-linked equities, which CoinDesk noted alongside BTC slipping below key levels.
Contributing Factors (3)
Bitcoin, ether extend declines as leverage unwind accelerates: Crypto Markets Today
Crypto markets fell further overnight as bitcoin and ether extended losses, metals tumbled and liquidation pressure hit leveraged traders across derivatives markets.
Here's why Fed contender Kevin Warsh is seen as bearish for bitcoin
BTC fell deeper to nearly $81,000 late Thursday as Warsh's odds surged in betting markets.
Crypto stocks sink as spot volume plunges and bitcoin tumbles below $84,000
Bellwether crypto exchange Coinbase was lower for an 8th straight session on Thursday to its weakest level since May.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.