Bitcoin, Ethereum and XRP Fall to Weekly Lows as Liquidations Spike Above $450 Million

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Crypto Market Update

Bitcoin and other major cryptocurrencies are in the red Friday, with top coins falling to their lowest prices in at least a week as stock markets are similarly rattled by hotter-than-expected inflation data.

Bitcoin Price Update

The price of Bitcoin dipped to $83,609 early Friday afternoon, and is currently down about 4% on the day at a current price of $83,736. It’s down just 0.4% on the week, but the Friday slide has cooled rising momentum seen in recent days.

Other Top Coins

Other top coins have shown sharper losses over the past day, however, with Ethereum down 6% to $1,875 and XRP falling about 7% to $2.17. Both fell to weekly lows on Friday alongside Bitcoin.

Solana and Dogecoin

Solana and Dogecoin are also in the red Friday, down 6% and 4.5% respectively over the past day, though both coins remain up over the last week.

Crypto Liquidations

Amid the declines, crypto liquidations have surged over the past day, tallying more than $450 million as of this writing per data from CoinGlass. Long positions make up the bulk of the carnage at $402 million, and Ethereum is the biggest contributor to liquidations with $136 million worth in total. Bitcoin is next at $118 million.

Stock Market Update

Both the Dow and S&P 500 indices are down more than 2% Friday, with traders reacting to continued inflation fears and the impact of Trump’s ever-evolving trade tariffs on other nations.

Mark Connors’ Analysis

“Today’s price action shows that investors are not ready for a long-term tariff engagement by the U.S.,” Mark Connors, chief investment strategist for Bitcoin investment advisory Risk Dimensions, told Decrypt. “Portfolio managers are taking risk off the table to fight another day, until the impact of tariffs have greater clarity.”

Nvidia and Crypto Stocks

Nvidia’s stock is down about 1.5% on the day, while the Nvidia-backed cloud computing firm CoreWeave—which began trading Friday—is down by about 1% as of this writing.

Crypto Stocks

But crypto stocks are taking much harder hits than the broader markets, with Strategy (MSTR) down about 10% on the day and Coinbase falling by nearly 7% as of this writing.

Conclusion

The cryptocurrency market is experiencing a significant downturn, with major coins such as Bitcoin, Ethereum, and XRP falling to their lowest prices in at least a week. The decline is attributed to hotter-than-expected inflation data and the impact of trade tariffs on the global economy. As a result, crypto liquidations have surged, with long positions making up the bulk of the carnage.

FAQs

Q: What is the current price of Bitcoin?

A: The current price of Bitcoin is $83,736, down 4% on the day.

Q: Which top coins have shown the sharpest losses?

A: Ethereum and XRP have shown the sharpest losses, down 6% and 7% respectively.

Q: What is the total value of crypto liquidations?

A: The total value of crypto liquidations is over $450 million as of this writing.

Q: Which coin is the biggest contributor to liquidations?

A: Ethereum is the biggest contributor to liquidations, with $136 million worth in total.

Q: How has the stock market reacted to the news?

A: The Dow and S&P 500 indices are down more than 2% Friday, with traders reacting to continued inflation fears and the impact of trade tariffs on the global economy.

Q: What is the current price of Solana and Dogecoin?

A: Solana is down 6% to $1,875, and Dogecoin is down 4.5% to $2.17.

Q: How has the crypto market reacted to the news?

A: The crypto market has reacted negatively to the news, with major coins such as Bitcoin and Ethereum falling to their lowest prices in at least a week.