Bitcoin Falls Below $84,000, Triggering Nearly $1 Billion In Liquidations – MSTR, BMNR Lead Crypto Stocks Sell-Off

• According to CoinGlass data, 260,609 traders were liquidated over the last 24 hours. 
• The sell-off coincided with renewed signals of interest-rate hikes from the Bank of Japan.
• Digital asset treasuries (DATs) such as MSTR and BMNR each fell more than 11%, leading the decline in crypto-linked equities. 

Bitcoin (BTC) dipped below $84,000 in midday trade on Monday, dragging crypto-linked equities such as Strategy (MSTR) lower amid broader market weakness.

CoinGlass data showed nearly $1 billion in liquidations over the past 24 hours, with long positions accounting for $864 million and short positions $75 million. In total, 260,609 traders were liquidated, and the largest single liquidation occurred on Hyperliquid, valued at $15.6 million for BTC-USD.

The sector-wide pullback came amid renewed interest-rate hike signals from the Bank of Japan.

Retail Sentiment Turns Bearish On Bitcoin

Bitcoin’s price fell more than 8% in the last 24 hours and was the top trending crypto ticker on Stocktwits. Retail sentiment on the platform around the apex cryptocurrency fell to ‘bearish’ from ‘neutral’ territory over the past day as chatter ticked higher to ‘normal’ from ‘low’ levels. 

Among the major altcoins, Ethereum (ETH) fell more than 10%. Ethereum’s price dipped to $2,700 in midday trade. Cardano (ADA) took the heaviest hit, down more than 12%, followed by Solana (SOL) and Dogecoin (DOGE), which fell more than 11% each.

According to CryptoQuant Founder Ki Young Ju, liquidity in crypto markets is drying up, especially for altcoins. He predicted that cryptocurrencies like Ethereum, Solana, and Ripple’s native token XRP have higher chances of long-term survival given their tie-ins with ETFs and digital asset treasuries (DATs).

Crypto-Linked Equities Follow Bitcoin Lower

MSTR’s stock plummeted more than 11% in midday trading and was the top-trending equity ticker on Stocktwits. Retail sentiment on the platform around the BTC proxy fell to ‘bullish’ from ‘extremely bullish’ over the past day, accompanied by chatter at ‘high’ levels. 

MSTR was not the only crypto-linked equity to take a hit. Tom Lee-backed Bitmine Immersion Technologies (BMNR) also fell more than 11% in midday trade. Crypto miners Marathon Digital (MARA) and Riot Blockchain (RIOT) dipped more than 7% each. Coinbase Global (COIN) fell more than 6%

Read also: Jensen Huang Says China Is A ‘Bonus’ Growth Opportunity For Nvidia – Shrugs Off Google TPU Competition

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