TheBlock
Bitcoin fell 3.6% over 24 hours to $80,764, slipping below $81,000 during Asian trading as regional stocks tumbled. Ether dropped 6.5% to $2,353, while Zcash lost 12.8%, Solana fell 4.8% and XRP slid 4.7%. The declines followed Wall Street losses after U.S. inflation data came in hotter than expected.
Why it matters
The sell-off spanned crypto, Asian equities and U.S. technology stocks, pointing to a broad risk-off move rather than a crypto-specific trigger. Zeus Research analyst Dominick John said weakness in U.S. tech stocks was spilling into both Asian equities and crypto, rather than one market directly causing the other.
The inflation reading revived concerns that the Federal Reserve could keep interest rates higher for longer. That outlook weighs on risk-sensitive assets as investors reassess the path of monetary policy.
Market impact
Asian shares fell sharply, with South Korea’s Kospi down 8% in the morning session and Japan’s Nikkei 225 losing 5.2%. Samsung Electronics and SK Hynix each fell more than 9%, adding to pressure across regional markets.
Crypto liquidations reached $951.4 million over 24 hours, including $876.3 million in long positions. The scale of long liquidations shows how leveraged bullish bets were caught in the downturn. Bitcoin and ether led declines among major assets, while Zcash recorded the largest loss among the top 10 cryptocurrencies.
Frequently asked questions
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How far did Bitcoin and ether fall during the sell-off?
Bitcoin fell 3.6% over 24 hours to $80,764, while ether dropped 6.5% to $2,353.
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What was driving the broad market decline?
U.S. inflation data came in hotter than expected, reviving concerns that interest rates could stay higher for longer and weighing on risk assets.
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How severe were the losses in Asian equities?
South Korea’s Kospi fell 8% in the morning session and Japan’s Nikkei 225 declined 5.2%. Samsung Electronics and SK Hynix each lost more than 9%.
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How much of the crypto liquidation total came from long positions?
Of the $951.4 million in crypto liquidations over 24 hours, $876.3 million came from long positions.
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Which top 10 cryptocurrency had the steepest decline?
Zcash recorded the biggest loss among the top 10 cryptocurrencies, falling 12.8% to $1,101.
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