Bitcoin slides below $83K as Wall Street pulls over $1B from crypto ETFs after Fed pause

Bitcoin fell as low as $81,200 on Friday, marking its weakest level since November, after the Federal Reserve held interest rates steady, leading to over $1 billion in net outflows from major U.S. crypto ETFs on Thursday. This slump coincided with a broader retreat from risk assets, including a significant selloff in equities and commodities like gold. The selling pressure was amplified by forced liquidations exceeding $1.8 billion in leveraged positions, mostly from long traders. Analysts suggest tight global liquidity, despite lower nominal borrowing costs, remains the primary factor suppressing crypto performance relative to gold. Furthermore, concerns over heavy AI spending in tech stocks unsettled risk markets, pushing Bitcoin toward the $80,000 region if it fails to reclaim $83,500. On-chain data also indicated strain in the mining sector due to a severe U.S. winter storm that temporarily disrupted activity and accelerated the network's largest hashrate drawdown since October 2021.

(Source：The Block)