Last night, Bitcoin's price first experienced a plunge, dropping to $9.8, which is the lowest point in over a month. Currently, Bitcoin's price has rebounded to above $101,000, amidst chaotic market conditions. In just 24 hours, over $1 billion in cryptocurrency positions were liquidated, with more than 95% being long positions.
According to CoinGlass data, from Monday to Wednesday, inflows reached $1.04 billion. However, by Thursday, this figure leveled off. On Friday, inflows were approximately $6.4 million. On the same day, Trump withdrew early from the G7 summit and announced a decades-long assessment of U.S. policy towards Iran.
The assumption of Bitcoin as a safe haven has been shattered. It has started trading like a high-risk tech stock. In recent weeks, the correlation between Bitcoin and the Nasdaq index has surged quite rapidly. The Asian, European, and U.S. futures markets have seen significant fluctuations, and futures linked to U.S. stocks have also begun to decline.
The Dow Jones Industrial Average fell by 109 points, a decline of 0.3%. S&P 500 futures dropped by 0.3%, and Nasdaq 100 futures fell by 0.4%. Asian stock markets also opened with significant declines, with Japan's Nikkei 225 index down by 0.56% and the Topix index down by 0.49%. The companies most severely affected include tech stocks: Screen Holdings plummeted by 4.78%, Lasertec Corp by 4.31%, and Disco Corp by 3.38%. Other sectors, such as Advantest and SoftBank, were not spared, falling by 1.66% and 0.76%, respectively.
