Bitcoin falls 4%, market price fresh trading panic
Crypto reporter
Shalini Nagarajan
Crypto reporter
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As the most used in crypto markets, bitcoin slid 4% to $88,000 on Wednesday, adding fresh stress to a week marked by risk aversion for stocks, bonds and currencies.
Spot gold rose above $4,800 for the first time, while silver hit a record high, as investors leaned into shelters amid a broader “Sell America” movement that weighed on the dollar.
Liquidity data from CoinGlass shows that 181,570 traders were liquidated in the last 24 hours, taking total liquidity to $1.07B. Long positions took most of the brunt, with $998.33m liquidated against $71.39m shorts.
Market overview
Bitcoin: $88,942, down 4% Ether: $2,963, 7.1% XRP down: $1.90, down 3.8% 3.8% Total crypto market value: $3.09 trillion, down 3.9%.
Bitcoin, Ether dominate liquidity as stocks remain under pressure.
Bitcoin and Ether have the most forced selling. The heat map shows $440.19M in Bitcoin Liquid and $392.38M in Ether, while the rest of the tokens together amount to $52.60M.
Risk sentiment also weighed on stocks in Asia, where losses extended into the third session. MSCI's Asia-Pacific index outside Japan fell 0.3%, while Japan's Nikkei fell 1.2%, its fifth straight decline.
Europe also seemed to be soft. Euro Stoxx 50 futures and DAX futures both slipped 0.4%, keeping traders on edge as they assess the latest tariff timeline and its implications for global growth.
Wall Street's losses soar as Trump doubles down on Greenland
In the U.S., the previous session saw the highest gains, with Wall Street sliding more than 2% overnight. The S&P 500 fell 2.06% and the Nasdaq Composite fell 2.4%, while Nasdaq and S&P 500 futures were up later, up about 0.2% in early trade.
The same flight to safety continues to push the energy up. Trade tensions remained at the center of the story. President Donald Trump has doubled down on his Greenland rhetoric, saying there is “no turning back” on his intention to control the island, and his threat of tariffs against Europe has fueled fears of a wider trade war.
Policymakers in Europe are preparing their response, with the European Union due to hold an emergency summit in Brussels on Thursday, and leaders weighing options that include tariffs on 93 billion euros, 109 billion dollars, in US imports.
According to Robin Singh, CEO of Coinly, February has historically been the month with double-digit gains for Bitcoin over the past decade. “But underperformance wouldn't be surprising, and it's not necessarily a bad thing,” he said.
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