Throughout the day, the cryptocurrency market experienced relentless selling pressure, causing Bitcoin to dip below the $90,000 threshold.
At present, Bitcoin (BTC) is valued at $89,522, marking a decline of nearly 4% over the past 24 hours.
The recent steep downturn in prices was largely influenced by global economic factors that dampened investors’ willingness to take risks. Turbulence in Japan’s government bond market triggered widespread panic selling of high-risk assets. Meanwhile, US President Donald Trump escalated tensions by threatening tariffs on Europe and hinted at using trade barriers as leverage in his interest to acquire Greenland. These developments fueled uncertainty across international markets. At the same time, precious metals surged to new record levels as investors sought refuge in safer investments.
This bearish trend extended beyond Bitcoin into altcoins as well. Ethereum (ETH) dropped 7.19% within a day to reach $2,985; Binance Coin (BNB) decreased by 3.95%; XRP fell by 5.33%; and Solana (SOL) declined by 5.63%.
The mounting sell-off also caused significant liquidations within derivatives trading platforms—totaling approximately $685.49 million over the last day—with long positions accounting for about $626.15 million and short positions around $59.34 million being forcibly closed out.
Please note: This content does not constitute financial advice.