$BTC
$1.68B Liquidations Crush Crypto as Bitcoin Slumps to $83K, Ether to $2.8K
The crypto market suffered another sharp sell-off over the past 24 hours, with total liquidations surging to $1.681 billion, dominated by $1.574 billion in long positions, according to Coinglass data. More than 270,000 traders were liquidated globally, with the largest single order, an $80.6 million BTC-USDT position, a recorded on HTX. The broader downturn pushed total crypto market capitalization below $3 trillion, shedding over 5% in a day. Bitcoin dipped to $83,000, while Ethereum fell to $2,754. Losses spilled into equities, with U.S.-listed crypto stocks sliding sharply, led by near-10% drops in Strategy and BitMine.
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Peter Schiff Says Bitcoin-Gold Ratio Slides 57% From 2021 Peak, Trails Gold and Silver Returns
Gold advocate and economist Peter Schiff said Bitcoin’s value relative to gold has fallen sharply, arguing the cryptocurrency is underperforming traditional safe havens. Citing current prices, Schiff said one Bitcoin is now worth about 15.5 ounces of gold, down 57% from its 2021 peak and only around 10% above its 2017 high. Despite increased promotion of Bitcoin by Wall Street firms and the Trump administration, Schiff claimed most investors would have seen better returns by holding gold or silver instead.
