Bitcoin fell as low as $74,780.91, its weakest intraday price since August 21, before trading near $75,570. CoinGlass reported $1.05 billion in crypto liquidations across its tracked markets over the preceding 24 hours, with long positions accounting for $930.04 million, or 88.2%.
The decline came alongside a selloff in AI stocks and forced closures of bullish crypto positions, but the source cautioned that the stock rout alone did not necessarily cause Bitcoin’s fall. Bitcoin was trading below its 50-day and 200-day exponential moving averages, although the 50-day average remained above the 200-day. The daily trading candle was still open, so the intraday low was not a closing price.
