Geopolitical risks and risk-off sentiment drive Bitcoin to $79,842, triggering $400M in crypto liquidations over 24 hours.
Bitcoin fell below $80,000 to $79,842, down 1.48%, as escalating U.S.-China tensions over Taiwan weighed on broader risk assets. The decline sparked $400M in liquidations across cryptocurrency markets in the past day, reflecting heightened volatility.
Ethereum mirrored the drop, trading at $2,268, also down 1.48%, while the total crypto market cap stood at $2.74 trillion. The Fear & Greed Index slid to 34, signaling growing investor caution amid macroeconomic uncertainty.
Spot Bitcoin ETFs saw $635 million in outflows in a single day, underscoring the shift in sentiment. Altcoins faced similar pressure, with the Altcoin Index at 36 out of 100.