Bitcoin: Falls Below $81,000 on Global Sell-Off
Kashif Raza reported Bitcoin trading below $81,000 and Ethereum under $2,300 as nearly $1 billion in crypto liquidations hit within 24 hours amid rising US inflation at 3.7% and broader market losses across US tech, South Korea and Japan.
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Bitcoin traded below $81,000 and Ethereum dropped under $2,300 as nearly $1 billion in crypto liquidations occurred in 24 hours, according to Kashif Raza. US tech stocks lost around $1 trillion in value, South Korea erased $289 billion and Japan's Nikkei plunged more than 5% intraday on rising US inflation at 3.7%, Fed rate hike concerns, AI stock sell-offs and Middle East tensions.
Price action at $80880.01 sits right on the lower Bollinger band at $80862.24 while the EMA50 at $83087.12 and EMA200 at $82261.81 cap any recovery in a bearish structure confirmed by the MACD death cross at -490.54; RSI at 33.04 leaves room for further downside before neutral territory is reclaimed.
Kashif Raza
@simplykashifThis personal account shares perspectives on technology startups and digital innovation, with content spanning AI advancements, software development trends, and entrepreneurial strategies for building tech-focused businesses.