Bitcoin nears $80,000 as crypto liquidations exceed $1 billion

  • Bitcoin traded near $80,000 during a cryptocurrency selloff on Thursday.
  • CoinGlass recorded $1.02 billion in liquidations affecting 164,899 traders over 24 hours.
  • Spot Bitcoin and Ethereum ETFs recorded $487.07 million and $160.8 million in net outflows.

Bitcoin traded as low as $80,000 on Thursday as renewed tensions involving Iran and concerns about AI-driven threats to crypto security weighed on risk appetite. Bitcoin was quoted at $80,448.98, while CoinGlass recorded $1.02 billion in 24-hour liquidations affecting 164,899 traders. U.S. spot Bitcoin ETFs posted $487.07 million in net outflows on Wednesday and spot Ethereum ETFs lost $160.8 million, according to SoSoValue. Ethereum traded at $2,478, while Solana, XRP, Dogecoin and Shiba Inu also declined. Scott Melker said Bitcoin's move below $82,800 could be a healthy retest rather than a break in its emerging bullish structure, citing $77,000 at the 50-week moving average as a further level he would not view as alarming. Nick Ducoff of the Solana Foundation said stablecoin payments, institutional adoption and tokenized securities were driving a tokenization super cycle, despite Solana's prolonged bear market.

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