"The bitcoin price (BTC) briefly surged above $90,000 early Wednesday in U.S. trading, only to tumble back below $87,000 within minutes, reflecting a fragile and volatile crypto market. The swift swings triggered more than $190 million in liquidations across crypto derivatives markets, hitting both long positions - bets on rising prices - worth $72 million, and short positions - bets on declines - totaling $121 million, according to CoinGlass data."
"Shares of Nvidia, Broadcom, and Oracle dropped between 3% and 6%, dragging the Nasdaq down more than 1% in early trading. "I think we're now seeing an exhausted market," Hunter Rogers, co-founder of bitcoin yield protocol TeraHash wrote to Coindesk. "In that environment, even mild selling activity pushes the market lower." Shrinking liquidity, particularly over weekend trading periods, amplifies these moves, leaving the bitcoin price vulnerable to sharp whipsaws with limited buy-side support."
Bitcoin briefly rallied above $90,000 then rapidly retraced into the mid-$86,000s, demonstrating pronounced intraday volatility and fragile market conditions. The price swings caused more than $190 million in liquidations across crypto derivatives, including about $72 million in long positions and $121 million in short positions. Declines in AI-focused technology stocks, including Nvidia, Broadcom and Oracle, pressured risk appetite and weighed on major equity indexes. Blue Owl Capital's reported withdrawal from funding an Oracle data center deal further dented AI sentiment. Market participants cited shrinking liquidity and an "exhausted market," and technical analysts identified $80,000-$85,000 as key support amid short-term caution.
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