Bitcoin slides below $80,000 as risk-off selloff hits crypto derivatives

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Bitcoin falls below $80K

Highlights

Bitcoin falls from above $81,700 to about $79,800 during Thursday's Asian session as a tech-led risk-off selloff hits crypto markets.
Crypto derivatives markets see $356 million in liquidations in 24 hours, with long positions losing $205 million and bitcoin futures accounting for $94 million.
Federal Reserve holds rates at 3.75%–4%, signaling continued tight financial conditions and dampening speculative flows into digital assets amid persistent inflation concerns.

Tech selloff and Fed stance pressure crypto

As reported by CoinDesk, bitcoin drops from above $81,700 to about $79,800 during Thursday's Asian session as a technology-led market selloff spreads from equities into digital assets.

The pressure begins in Asia after Samsung shares fall more than 5%, following disappointment over its semiconductor division results relative to elevated investor expectations. South Korea's Kospi declines more than 2%, while Nasdaq futures lose 1.4%, adding to the risk-off tone that pulls lower not only bitcoin but also ether, XRP, solana and other tokens.

The Federal Reserve also adds to investor caution by keeping its benchmark rate unchanged in the 3.75% to 4% range in what markets describe as a hawkish hold. Chair Kevin Warsh says inflation progress is underway but price pressures remain above the central bank's 2% target, reinforcing expectations that financial conditions may remain tight.

Liquidations deepen losses across derivatives

Renewed weakness in bitcoin accelerates forced selling across crypto derivatives markets as leveraged traders betting on further gains absorb the heaviest losses.

Crypto futures register $356 million in liquidations over the past 24 hours, with long positions accounting for $205 million of that total. Bitcoin futures make up $94 million of the wiped-out positions, while ether futures account for another $72 million.

The market impact for the crypto sector is that elevated real yields and the prospect of another Fed rate increase in December may continue to limit capital flows into speculative assets. ING still expects the central bank to raise rates again after September's increase, a backdrop that keeps pressure on sentiment across high-volatility markets.

In our earlier article on the Nasdaq 100’s selloff, we noted that the index slid sharply and broke below its 20-day and 50-day moving averages, signaling rising near-term selling pressure. We also highlighted an unusual backdrop: the drop came alongside falling US Treasury yields after inflation data, raising questions about shifting risk sentiment even as longer-term bullish signals remained intact.

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