Bitcoin Price Drops Below $80,000 as $700 Billion Wiped from US Stocks
Bitcoin plunges under $80,000 as US stock markets lose $700 billion at the open. Gold and silver see $1.5 trillion wiped in a massive global asset liquidation.
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Bitcoin Loses Key Support Amid Global Market Rout
The financial world is reeling today as Bitcoin ($BTC) fell below the critical $80,000 psychological support level. This move comes on the heels of a brutal opening session for Wall Street, where roughly $700 billion in market capitalization evaporated within minutes of the opening bell. The contagion has not been limited to risk assets; the precious metals market is witnessing an unprecedented exodus, with an estimated $1.5 trillion wiped from Gold and Silver valuations over the last 24 hours.
Why is Bitcoin Crashing Today?
The primary catalyst for the Bitcoin price drop appears to be a massive de-risking event triggered by "hotter-than-expected" inflation data. The latest Producer Price Index (PPI) surged to 6% year-over-year, far exceeding the 4.9% forecasts. This has effectively killed any remaining hopes for a Federal Reserve rate cut in 2026, forcing investors to flee high-beta assets like cryptocurrencies and tech stocks.
Global Liquidation: Stocks and Metals in Freefall
The carnage started in the traditional sector. The Nasdaq-100 fell 1.7% at the open, led by a bloodbath in semiconductor stocks like Intel and NVIDIA. Simultaneously, Gold—usually a safe haven—tumbled below $4,350 per ounce.
- US Stocks: $700 Billion wiped at the open.
- Precious Metals: $1.5 Trillion exit from Gold and Silver.
- Crypto Market: Total market cap down 0.29% in hours, with liquidations crossing $200 million.
Current Market Prices (Live Feed)
- Bitcoin (BTC): $79,066 (-1.5%)
- Ethereum (ETH): $2,215 (-3.2%)
- Gold (XAU): $4,550 (-2.1%)
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