Bitcoin
Why Bitcoin is down 1.7% today
Analysis
Bitcoin fell 1.7% over the past 24 hours as it stayed capped below the $80,000/$79,000 area and selling accelerated amid liquidation-driven pressure, according to CoinDesk’s Asia Morning Briefing and CryptoPotato’s market watch. Sentiment also likely softened on regulatory and industry stress headlines after CoinDesk reported the founder of Russia’s biggest bitcoin mining firm was arrested for alleged tax evasion while the company faces bankruptcy.
Contributing Factors (3)
Russia's biggest bitcoin mining firm's founder arrested for tax evasion while his company faces bankruptcy
An En+ subsidiary has filed an insolvency claim against the crypto mining firm, adding to pressure from energy debts, regulatory curbs and internal turmoil.
Bitcoin (BTC) Stopped at $79K, Hyperliquid (HYPE) Rockets by Double Digits: Market Watch
HYPE continues to defy the overall market crash, posting another substantial increase over the past 24 hours.
Bitcoin holds below $80,000 as January prediction contracts miss liquidation-driven slide: Asia Morning Briefing
Options markets signaled rising tail risk as liquidations mounted, but January prediction odds adjusted slowly as bitcoin volatility unfolded.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.