Bitcoin's Sharp Decline
On January 13, Bitcoin experienced a sudden drop, falling below $91,000** with a daily loss exceeding **4%**. According to **Coinglass** data, the past 24 hours saw **over 200,000 traders liquidated** across the cryptocurrency market, totaling **$480 million in losses.
Key Market Reactions
Liquidation Breakdown:
- Long positions: $410 million
- Short positions: $68.9 million
- Altcoin Impact: Ethereum, BNB, and Dogecoin dropped over 3% following Bitcoin’s slump.
Macroeconomic Factors Driving Volatility
Dollar Strength and Treasury Yields
USD Index: Surged past 110, hitting a 2022 high, fueled by:
- Hawkish Federal Reserve policies.
- Upward revisions in economic forecasts (e.g., Goldman Sachs predicts 5% USD appreciation).
- 10-Year Treasury Yield: Rose to 4.8%, reflecting reduced expectations for Fed rate cuts.
Crypto Market Sentiment
Despite Bitcoin’s recent peak above $100,000, macroeconomic headwinds have dampened risk appetite:
- Fed’s Stance: Strong employment data reduced bets on 2024 rate cuts, pressuring crypto prices.
- Expert Insight: Grayscale’s Zach Pandl maintains a long-term bullish outlook, citing Bitcoin’s structural resilience despite short-term USD dominance.
FAQs
1. Why did Bitcoin’s price drop suddenly?
Bitcoin faced selling pressure due to USD strength and reduced liquidity expectations after robust U.S. jobs data.
2. How many traders were liquidated?
Over 200,000 traders, with $480 million in total losses.
3. What’s the outlook for Bitcoin?
Analysts remain optimistic long-term, but short-term volatility may persist amid macroeconomic uncertainty.
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Keywords: Bitcoin price, cryptocurrency liquidation, USD index, Fed policy, altcoins, market volatility
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