Bitcoin Tests $80K as Global Selloff Wipes $100B From Crypto

TL;DR Bitcoin fell to just above $80,000 before recovering toward $81,000, while the crypto market briefly lost more than $100 billion in value. South Korea’s Kospi plunged 8% and Japan’s Nikkei fell 5%, extending a global risk-off move after hotter U.S. inflation renewed rate concerns. Nearly $1 billion in crypto futures positions were liquidated as volume jumped 61%, while stable open interest suggested positions were being closed rather than leverage rebuilding. Bitcoin fell to just above $80,000 during Asian trading on Thursday as selling spread across global risk markets and the broader crypto sector lost more than $100 billion at one point. Buyers stepped in near the session low, and BTC later recovered toward $81,000. CoinMarketCap subsequently showed Bitcoin near $81,037, with a 24-hour low around $80,275.

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