Bitcoin Settles Under $80K as Market Sentiment Turns Cautious
The post Bitcoin Settles Under $80K as Market Sentiment Turns Cautious appeared on BitcoinEthereumNews.com. Out of a total of $117 million in 24-hour BTC liquidations, $102 million were longs, demonstrating how biased positioning had become. In the wake of the Trump-Xi meeting, Asian stock markets were volatile, and cryptocurrency prices fell. With Bitcoin still below $80,000 and other altcoins suffering steep losses, Thursday’s crypto market was muted. After falling as low as $78,720 on Wednesday, the biggest cryptocurrency was lately trading around $79,800. Most importantly, it is still trading below the weekly open price of $82,500. Rising Inflation Concerns and Global Political Tensions The Producer Price Index (PPI) rose 6%, marking its highest annual level since 2022 and adding fuel to the fire of inflation fears, which has put pressure on risk assets after the release of high-profile inflation numbers from the US. After reaching 50/100 on Monday, the Altcoin Season indicator ret