Bitcoin Sinks Below $84k As Crypto Selloffs Heat Up
Bitcoin Sinks Below $84k as Crypto Selloffs Heat Up
Bitcoin (BTCUSD) fell 5.54% over the last 24h to around $84k, underperforming the broader cryptocurrency market’s 5.04% drop.
The decline has knocked down global market capitalisation below $3 trillion, as Ethereum and other top altcoins plunged as risk-off sentiment heated up.
BTC is trading at $83.6k level due to negative sentiment. Its price slipped as trading data showed a 61% increase in trading volume to $64.64 billion, keeping the global market cap of all digital assets at $2.86 trillion.
The drop was exacerbated by a massive unwind of leveraged positions. Bitcoin saw over $431 million in long position liquidations in 24 hours. Technically, BTC broke below the crucial $85,000…
