Key Takeaways
- • Bitcoin fell below $81,000 on Thursday, with an intraday low of $80,900 before recovering to about $81,100, leaving it down 2.8% over 24 hours (per Yahoo Finance coverage).
- • CoinGlass data showed roughly $974 million in crypto liquidations, including $896 million in long positions. Ethereum led with $311 million, followed by Bitcoin at $238 million.
- • Ether dropped below $2,500, and Solana neared $110, as altcoins extended the decline. Reports cited a roughly $23 billion loss in total crypto market value within hours.
- • Crypto-linked equities sold off in step with Bitcoin. Bitmine (BMNR) fell over 5% to its lowest level since mid-September, and AI-pivoting bitcoin miners hit multi-month lows, with Riot Platforms down more than 9%.
- • Rising oil prices and geopolitical tensions, including Iran-related concerns, were cited as pressure on risk assets.
Summary
Bitcoin (BTC) fell below $81,000 on Thursday, triggering nearly $1 billion in liquidations across the cryptocurrency market, according to reporting that cited CoinGlass data. Liquidations totaled $974 million, of which $896 million were long positions. Ethereum led the losses with $311 million in liquidations, followed by Bitcoin at $238 million. Bitcoin's intraday low was $80,900, and it traded near $81,100 at the time of reporting, down 2.8% over the prior 24 hours. Bitcoin was the top-trending ticker on Stocktwits, with retail sentiment turning bearish. Reports attributed the pressure to rising oil prices and geopolitical tensions, including concerns linked to Iran, which weighed on risk assets broadly. One report put the decline in total crypto market value at roughly $23 billion within hours.
Ether fell below $2,500 in the selloff, and Solana neared $110, with altcoins extending losses. Solana and Dogecoin were among the weakest large-cap tokens, while Bitcoin outperformed the top 10 cryptocurrencies by market capitalization.
The selloff spread to listed crypto companies. Strategy (MSTR), Coinbase (COIN), and Block (XYZ) each fell more than 2% in midday trade, and stablecoin issuer Circle (CRCL) dipped as much as 1.5%. Ethereum treasury company Bitmine Immersion Technologies (BMNR) was the hardest hit in the group, falling more than 5% to its lowest level since mid-September. Bitcoin miners that have expanded into AI data center infrastructure also came under heavy pressure. Riot Platforms (RIOT) dropped more than 9%, Hut 8 (HUT) fell 8%, Cipher Mining (CIFR) lost 7.9%, CleanSpark (CLSK) slid 7.1%, IREN (IREN) dropped 6.3%, and Core Scientific (CORZ) declined about 2%. Riot, Cipher, CleanSpark, and Core Scientific each touched their lowest levels since April.
Ether fell below $2,500 in the selloff, and Solana neared $110, with altcoins extending losses. Solana and Dogecoin were among the weakest large-cap tokens, while Bitcoin outperformed the top 10 cryptocurrencies by market capitalization.
The selloff spread to listed crypto companies. Strategy (MSTR), Coinbase (COIN), and Block (XYZ) each fell more than 2% in midday trade, and stablecoin issuer Circle (CRCL) dipped as much as 1.5%. Ethereum treasury company Bitmine Immersion Technologies (BMNR) was the hardest hit in the group, falling more than 5% to its lowest level since mid-September. Bitcoin miners that have expanded into AI data center infrastructure also came under heavy pressure. Riot Platforms (RIOT) dropped more than 9%, Hut 8 (HUT) fell 8%, Cipher Mining (CIFR) lost 7.9%, CleanSpark (CLSK) slid 7.1%, IREN (IREN) dropped 6.3%, and Core Scientific (CORZ) declined about 2%. Riot, Cipher, CleanSpark, and Core Scientific each touched their lowest levels since April.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.