WS #16536
Bitcoin has dropped below the $80,000 level, triggering $335 million in liquidations over the last 24 hours as the broader tech selloff spills into crypto markets. KuCoin has exited Russia and Belarus, reflecting a broader trend of exchanges retreating from sanctioned jurisdictions. The correlation between tech equities and crypto remains strong, with the AI capex fears acting as a catalyst for risk-off sentiment across digital assets.
Crypto Liquidation Cascade
Bitcoin has dropped below the $80,000 level, triggering $335 million in liquidations over the last 24 hours as the broader tech selloff spills into crypto markets. KuCoin has exited Russia and Belarus, reflecting a broader trend of exchanges retreating from sanctioned jurisdictions. The correlation between tech equities and crypto remains strong, with the AI capex fears acting as a catalyst for risk-off sentiment across digital assets.