Bitcoin fell under $80K, as market crash by liquidated $600 million in trades
Stock markets dropped badly, having the worst week since 2020.
Trump’s new EU tariffs may cause a global trade fight as countries plan to strike back.
The price of Bitcoin fell rapidly from close to $83,000 to below $79,000 within a matter of hours. The sudden dip created a wave of liquidations in which some $600 million of leveraged bets were erased based on CoinGlass data.
They were high-risk positions in which the traders had used borrowed funds anticipating Bitcoin to rise, but the price decline got them caught off guard.
What Caused the Market crash?
Prior to this crash, Bitcoin had been performing well and even better than large stock markets. Some thought it was behaving like a digital gold a safe haven.
But with this decline, fears are surfacing again. Analyst Jonatan Randing stated that Bitcoin is near touching its 50-week EMA (a typical technical level), which typically serves
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