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Bitcoin Falls Below $80k, $800 Million Liquidated: Analysts Say Only This Can Stop Further Downturn

  • Massive liquidations hit the crypto market with 280k traders affected and US$853 million wiped out in 24 hours, primarily from Bitcoin and Ethereum long positions.
  • The Fear and Greed Index has plummeted to “Extreme Fear” at 23, reaching levels not seen since early March as market sentiment deteriorates.
  • Analysts warn that escalating tensions between the US and China over Trump’s tariff threats could trigger further market decline.
  • Countries are responding differently to Trump’s tariff threats, with Vietnam, Israel, and India dropping tariffs on US products while China, the EU, and Canada contemplate countermeasures.

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