Bitcoin Slips to $82K as Liquidations Spike to $1.7B
Global financial markets experienced a widespread selloff on Thursday due to macroeconomic and geopolitical events, causing Bitcoin to fall 7.4% to a nine-month low of $82,134. The total crypto market capitalization dropped by 6.7%, leading to $1.68 billion in liquidations. Key factors included uncertainty over the next U.S. Federal Reserve Chair nominee—reportedly frontrunner Kevin Warsh, known for hawkish views—and a Trump executive order enabling tariffs on goods from countries supplying oil to Cuba. Additional market anxiety stemmed from U.S.-Iran tensions, South China Sea disputes, and the Russia-Ukraine war, which dampened risk appetite. Bitcoin’s open interest increased, while trading volumes declined, reflecting strong selling pressure. Options markets indicate expectations for a further slide to $70,000–$75,000, with a -12% 30-day skew signaling demand for downside protection. Despite a modest recovery, broader regulatory developments like the Clarity Act are not expected to boost prices short-term. By early Friday, Bitcoin had rebounded 1.1% to $82,850 alongside slight equity market gains as U.S. political uncertainty temporarily eased.
