Bitcoin took a sharp nosedive on Thursday, dragging the broader crypto market as value slid by about $2 trillion. A wave of red spread beyond digital assets, hitting tech stocks and even precious metals. The selloff deepened as investors grew wary over potential shifts in Federal Reserve policy, undercutting risk appetite across markets.
Bitcoin fell to a 16-month low, hovering close to the $60,000 level as investors retreat from higher-risk assets. The pressure follows broad selloffs in technology stocks that have spilled into crypto markets. Ether also dropped, and the wider cryptocurrency sector has erased trillions of dollars from its all-time high, underscoring a tough stretch for digital assets.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Bitcoin liquidation losses surged to about $2.56 billion as market volatility spooked investors. Heavy selling spilled beyond crypto into other riskier assets like stocks and precious metals. The broader selloff was intensified by rising anxiety about the evolving AI landscape, alongside additional external market pressures that dented confidence and triggered rapid position closures.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
