Over $1 Billion in Cryptocurrencies Forced to Liquidate, Bitcoin Plunges 6% Below $67,000
Bitcoin plunged over 6%, breaching the $67,000 mark for the first time since April 5, triggering more than $1 billion in cryptocurrency liquidations—the highest level since February. The sell-off was driven by deteriorating market sentiment amid heightened geopolitical risks from the Iran situation and a symbolic shift in strategy from a major holder.
In a significant psychological blow to the market, MicroStrategy disclosed the sale of approximately 32 bitcoins, marking its first divestment since late 2022 and breaking its long-standing "buy-only" stance. Concurrently, U.S. spot Bitcoin ETFs have seen net outflows for a record 11 consecutive days, with approximately $3.5 billion withdrawn, removing a key traditional price support.
Analysts note that positive catalysts from U.S. crypto regulatory progress have been completely offset by prevailing risk-off sentiment. Bitcoin is now down nearly 50% from its all-time high of around $126,000 set in October last year, starkly underperforming the rising Wall Street equity markets.
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