Bitcoin fell over 5% to $76,006 on Friday as a US tech and AI stock selloff triggered widespread crypto market weakness. Over $1.1 billion in leveraged positions got liquidated, hurting many traders. Nischal Shetty said, "The crypto markets surrendered their post-election gains as heavy selling in US technology stocks spread."
Bitcoin plunged over 5% to $76,006 as weakness in US technology stocks triggered widespread crypto selling. More than $1.1 billion in leveraged positions were liquidated, intensifying bearish sentiment across major cryptocurrencies.
Bitcoin fell over 5% in a single day to trade near the $76,000 mark as tech selloff exposed the recent fragile recovery. The cryptocurrency was trading at $76,006 on Friday.
In the past 24 hours, Bitcoin and Ethereum were down 5.31% and 7.24% respectively. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, Hyperliquid and Cardano corrected upto 9.21%.
Nischal Shetty, Founder, WazirX said the crypto markets surrendered their post-election gains as heavy selling in US technology and AI stocks spread to digital assets. The reversal highlights a market still sensitive to global risk appetite, with leveraged trading amplifying price swings.
Crypto Tracker
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Nearly $1.1 billion were liquidated in crypto over 24 hours, affecting approximately 211,000 traders. Within a four-hour window, $818.90 million of the $879.92 million liquidated consisted of long positions, approximately 93%, he further said.
The global crypto market capitalisation went down 4.81% to $2.55 trillion, according to the data on Coinmarket cap.
Avinash Shekhar, Co-Founder & CEO, Pi42 said the sell-off was driven by weakness in US technology stocks, sustained
ETF outflows and widespread liquidations exceeding $1 billion across the crypto market.
He further said that for active traders, managing leverage, tracking key technical levels and adopting well-defined trading strategies will be essential as the market navigates heightened volatility
Over the last week, Bitcoin was down 1.99% and Ethereum was up 0.43%. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, Hyperliquid and Cardano corrected upto 14.38%
Riya Sehgal, Research Analyst, Delta Exchange said Bitcoin's failure to sustain its recovery above $80,000 has reinforced bearish momentum, with the latest selloff highlighting crypto's growing sensitivity to US equity markets.
The selloff was amplified by leveraged positioning, with 24-hour crypto liquidations reaching $1.18 billion, including $1.04 billion in long positions and attention now shifts to today's US Non-Farm Payrolls report, scheduled for 7:00 PM IST, Sehgal further said.
Market perspective
CoinSwitch Markets Desk : BTC pulled back to $76K as weakness in AI and semiconductor stocks weighs on broader market sentiment. Concerns over slowing AI growth, potential restrictions on data center construction, and elevated investor leverage have contributed to the equity selloff.
Prateek Gupta, Head of Business, Mudrex: Bitcoin has slipped back to around $76,000, erasing its post-election gains after a 6% decline on Thursday as weakness in US technology and AI stocks spilled into crypto markets. Nearly $1.08 billion in crypto positions were liquidated over 24 hours, largely affecting bullish traders.
Vikram Subburaj, CEO, Giottus: Bitcoin and the broader crypto market are facing renewed selling pressure as investors reassess risk following a sharp sell-off in global equities. Avoid chasing rebounds. Stagger investments, keep position sizes modest and watch Bitcoin's $75,000 support level, ETF flows and US economic data before taking fresh exposure.