Bitcoin (BTC) price has dropped below $80000

Bitcoin (BTC) price has dropped below $80000, triggering concerns about a deeper sell-off and increasing market instability.

Bitcoin (BTC) price slipped below the crucial $80,000 level on Friday, triggering concerns about a deeper sell-off and increasing instability in the market.

The sharp drop has also intensified fears of a broader market downturn, with the total digital asset market cap falling by 8.58% to $2.62 trillion in the past 24 hours.

Bitcoin’s price slid nearly 7% during Asian trading hours to reach lows of $79,083 by 01:18 ET (05:18 GMT).

This move comes after a breakout above the key resistance at $83,000 on Thursday.

The decline in Bitcoin’s price was accompanied by a massive surge in trading volume across BTC/USD pairs, exceeding $71.5 billion in the past 24 hours.

This high volume likely triggered liquidations of nearly $410 million in leveraged Bitcoin long positions, amounting to almost half of the total $865.24 million in crypto liquidations over the same period, according to CoinGlass data.

Bitcoin is now down about 25% from its all-time high of $109,114, which was reached on January 20—the day of U.S. President Donald Trump’s inauguration.

The surge in liquidations has also rattled investor confidence, which is reflected in sentiment indicators.

The Crypto Fear and Greed Index, which measures market sentiment, remains deep in Extreme Fear territory, currently at 16 out of 100.

While this is a slight recovery from yesterday’s low of 10, the index reflects a dramatic shift in sentiment—just a month ago, it stood at 72, indicating nearly extreme Greed.

Meanwhile, the broader crypto market has also taken a hit,