Bitcoin experienced a sharp downturn today, with prices plunging below $91,000**, wiping out **$480 million in leveraged positions across the cryptocurrency market.
Key Market Highlights
- Bitcoin Price Drop: Fell 4% intraday, breaching $91,000.
- Liquidations: 200,000+ traders liquidated in 24 hours (Coinglass data).
- Altcoins Impacted: Ethereum, BNB, and Dogecoin down over 3%.
Dollar Index Surge
The DXY (Dollar Index) surged past 110, its highest level since November 2022, fueled by:
- Strong U.S. employment data.
- Hawkish Federal Reserve policies.
- Rising 10-year Treasury yields (4.8%).
Why the Crash?
- Macro Pressures: Fed’s delayed rate cuts and tariff threats strengthened the USD, pressuring BTC.
- Leverage Risks: High futures open interest magnified volatility.
Expert Insight
“Bitcoin’s long-term outlook remains bullish, but short-term headwinds from dollar strength are likely.” — Zach Pandl, Grayscale Research Director
FAQs
Q: Will Bitcoin recover soon?
A: Analysts expect volatility but maintain a structurally bullish view.
Q: How does the DXY affect crypto?
A: A stronger dollar typically reduces risk-asset appeal, including Bitcoin.
Q: What’s next for altcoins?
A: Ethereum and others may follow BTC’s trend until macro conditions stabilize.
👉 Cryptocurrency Trading Strategies
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