Overview
- Bitcoin hit $60,008.52 before snapping back above $65,000 and briefly topping $70,000 in a volatile intraday relief rally.
- Exchanges liquidated more than $2.6 billion in futures positions within 24 hours, mostly long bets, as key support broke and open interest collapsed.
- U.S. spot bitcoin ETFs recorded persistent redemptions, with Deutsche Bank estimating over $3 billion in net outflows in January after heavy withdrawals in November and December.
- The total crypto market value has fallen by about $2 trillion since early October, with pressure tied to a global tech-stock selloff, hawkish Fed expectations and heightened precious-metals volatility.
- Crypto-exposed stocks swung sharply, with earlier steep declines in names such as Strategy and Coinbase followed by double-digit rebounds as risk assets stabilized.