$768,850,000 in Bitcoin and Crypto Liquidated in 12 Hours As Global Asset Dump Intensifies

Japan’s stock market is plunging to start the week, fueling a global asset sell-off.

The Bank of Japan’s decision to tighten monetary policy, an increasingly bleak economic outlook in the US and rising tensions in the Middle East have triggered a worldwide market reversal, sending Bitcoin and the crypto markets in a free fall.

After touching $70,000 about a week ago, BTC has plummeted to $54,350 at time of publishing, with crypto traders collectively witnessing a whopping $768.85 million in liquidations in the last 12 hours, according to Coinglass.

US stock futures are also down, with the Dow Jones Industrial Average futures dropping 383 points, or about 1%. S&P 500 futures and Nasdaq-100 futures are down 1.17% and 2.12%, respectively.

A disappointing US jobs report has significantly increased expectations that the Federal Reserve will lower interest rates this year, with JPMorgan Chase reportedly forecasting a 50 basis point drop in September.

We may learn more on the Fed’s next moves on Monday, when San Francisco Fed President Mary Daly gives public comments at a business conference in Hawaii.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post $768,850,000 in Bitcoin and Crypto Liquidated in 12 Hours As Global Asset Dump Intensifies appeared first on The Daily Hodl.