US EditionBitcoin (BTC) Price News: Falls to $88K, Erases Bounce After Nvidia Earnings
Bitcoin fell over 7% in 24 hours as Fed hawkishness and increased selling pressure from dormant wallets offset Nvidia's earnings-driven rally, shifting options toward downside protection.
- On Friday, Bitcoin fell below $85,500 as markets absorbed fresh selling and shifting global rate expectations, leaving BTC down more than 7% over 24 hours and more than 20% over the past month, CoinDesk data shows.
- After Nvidia's earnings, the rally that began Wednesday evening in the U.S. reversed as Federal Reserve officials signalled limited rate cuts and heavy selling from long-dormant bitcoin wallets and asset managers.
- Crypto-Related stocks and tokens slumped after opening gains as Coinbase and Gemini fell 4% and 5%, Circle slid 3.5%, and ether lost nearly 4%.
- As bitcoin slides, MicroStrategy faces added pressure with shares at $178 and average break-even $74,430; JPMorgan warned MSCI index removal in January could trigger billions in passive outflows.
- Put-Heavy positioning suggests guarded investor sentiment as Deribit data shows the $85,000 put eclipsing the $140,000 call, reflecting downside protection amid Nvidia's firm equities.
14 Articles
14 Articles
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Bitcoin drops below $85,500 as market structure weakens - The Blockopedia
Market Pressure Intensifies Bitcoin extended its decline on Friday, falling below $85,500 according to market data. The cryptocurrency has dropped… The post Bitcoin drops below $85,500 as market structure weakens appeared first on The Blockopedia.
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