Bitcoin price (BTC) news: Major whipsaw on Wednesday sends price back below $88,000
Bitcoin experienced a sharp whipsaw, briefly exceeding $90,000 before falling back below $88,000, mirroring losses in AI stocks.Summary
Crypto markets saw significant volatility on Wednesday, with Bitcoin experiencing a major whipsaw, rapidly moving from around $87,000 to over $90,000 and then quickly settling back near $87,300. This sharp decline occurred concurrently with significant losses in artificial intelligence-related stocks like Nvidia, Broadcom, and Oracle, which dropped between 3% and 6%, dragging the tech-heavy Nasdaq down. The deflation of AI sentiment was reportedly triggered by news that Blue Owl Capital withdrew from funding a $10 billion Oracle data center deal in Michigan. This volatile action resulted in over $190 million in liquidations across crypto derivatives markets in four hours, affecting both long and short positions, suggesting that shrinking liquidity is making Bitcoin vulnerable to broader market movements.
(Source：CoinDesk)