Bitcoin fell below $69,000 on Friday, trading at $68,666, down 6.63%, as renewed expectations of a Fed rate hike and Nvidia's leadership shake-up triggered a broad sell-off. Ethereum slid 5.57% to $1,934, and more than $1.4 billion in crypto liquidations accelerated the decline.
Why it matters
Total market capitalization sits at $2.41 trillion with BTC dominance at 57.2%. The Fear & Greed Index dropped to 20, deep in extreme fear territory. Spot ETFs bled roughly $1.5 billion over the stretch, even as Wall Street buyers stepped in on the dip, and Nvidia perpetual futures slid 9% on Hyperliquid amid uncertainty around Jensen Huang.
Market impact
The combination of macro pressure and ETF outflows is the bearish driver here: institutional money exited at the same time leveraged longs got flushed. Watch whether dip-buying absorbs the outflow pressure or whether another Fed signal pushes liquidations higher. Small caps told a different story, with Sanctum up 116.5% and Lombard up 69.1%, while Polymarket laid off employees and ended contractor deals.
Source: [source](https://webappcsdfedsssd.controller.bot/media/files/8336652911/AgACAgIAAxkBAAJcRmr2yuaxwbMXl8pFdhu04rwtbbiCAAKxGWsb_CC4S60YNvTb_Jn7AQADAgADeQADPQQ?sig=IhhZ2sIvmYcDZArLBOuxoSsP4W1xH_ev774nxUjZyTA)
Frequently asked questions
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Why did Bitcoin drop below $69,000 on Friday?
Bitcoin fell 6.63% to $68,666 as renewed expectations of a Fed rate hike and Nvidia's leadership shake-up triggered a broad risk-asset sell-off, with over $1.4 billion in crypto liquidations accelerating the decline.
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How much did crypto ETFs lose during the sell-off?
Major spot crypto ETFs bled roughly $1.5 billion over the stretch, even as Wall Street buyers stepped in to purchase the dip on the other side of the trade.
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What is the current Fear & Greed Index reading?
The Fear & Greed Index fell to 20, which sits deep in extreme fear territory, while the Altcoin Index read 48 out of 100.
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How did Ethereum perform compared to Bitcoin?
Ethereum slid 5.57% to $1,934, underperforming Bitcoin's 6.63% decline in percentage terms only marginally, as the total market cap fell to $2.41 trillion.
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Were any altcoins up during the sell-off?
Yes, small caps bucked the trend: Sanctum gained 116.5%, Lombard rose 69.1%, Magma Finance added 19.5%, and NeoSoul and DODO each gained more than 15%.
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