Bitcoin drops to $ 85,000

Bitcoin BTC $84,067.01 Mezo Wrapped BTC -10.10% Market capitalization $42.94 million VOL. 24 hours $5.48 billion has plunged below $ 85,000 for the first time in eight months, triggering a massive drop in global financial markets. Within just five hours on Thursday, the S&P 500 index lost more than $ 2 trillion in market value, the fastest depreciation since the March crash, which traders dubbed «Liberation Day.» According to analysts, the crypto market’s decline began without any new news or cyberattacks — it was caused by an excessive amount of borrowed capital, which led to a chain reaction of liquidations.

Nvidia, which reported record revenues of $ 55 billion, also experienced significant fluctuations: its shares initially rose by 6%, but ended the day down 3%. According to experts, this fluctuation was caused solely by a change in investor sentiment, without any new factors or announcements.

According to internal data from OKX and Bybit, daily liquidations in the cryptocurrency sector exceed $ 1 billion. The level of volatility once typical for cryptocurrencies has now turned into a large-scale global «margin call» that affects all markets simultaneously. Analysts note that the problem has already gone beyond digital assets, affecting traditional financial instruments.

on October 6, just 45 days ago, Bitcoin reached an all-time high of $ 126,272, which corresponded to a market capitalization of $ 2.5 trillion. However, on October 10, the situation changed when Donald Trump threatened to impose 100% duties on imports from China. This was the catalyst for record liquidations of $ 19.2 billion in highly leveraged positions, after which the market failed to recover.

Even after the October 30 trade agreement, there were no positive changes. On the contrary, the pace of liquidations only increased. Since November 10, Bitcoin has been in a continuous decline, breaking through key support levels, while the volume of open positions has been rapidly declining. The average daily liquidation volume remains at around $ 1 billion.