
Crypto markets remain firmly risk-off, with the latest decline extending the post-CPI weakness and developing into a significant leveraged-long flush.
Bitcoin briefly fell toward the $80,000 region, while Ethereum dropped toward $2,320 and continued to underperform. The weakness is broad-based, with ETH, SOL and XRP falling around 5–6% and several smaller altcoins recording double-digit declines.
The macro backdrop remains challenging following hotter-than-expected U.S. inflation, which reinforced concerns that the Federal Reserve may need to maintain restrictive policy for longer. However, leverage has significantly amplified the latest leg lower. According to CoinGlass, around $944 million in positions were liquidated over the past 24 hours. Around $487 million was liquidated in the latest one-hour window alone, highlighting the intensity of the forced deleveraging.
Volatility has also risen sharply alongside the sell-off. Bitcoin volatility jumped around 7% toward 39, indicating that options markets are pricing greater near-term uncertainty and larger expected price swings.
Technically, $80,000–$80,700 is the critical support region for Bitcoin. A sustained break below $80,000 could expose $78,000–$79,500, while a recovery above $82,000–$83,200 would be needed to improve the short-term structure. Ethereum remains comparatively weaker, with $2,300–$2,320 emerging as the immediate support zone.
Disclaimer: This article is for educational and informational purposes only. It is not financial, investment, legal or tax advice, and it is not a recommendation or solicitation to buy, sell or hold any crypto asset or derivative.