Bitcoin's decline marked its lowest level since August before buyers pushed the price back above $75,000, according to CoinDesk data. Ether also experienced significant volatility, dropping below $2,100 before recovering to $2,144 at the time of the report.
The sell-off was particularly damaging for traders betting on rising prices. Long positions accounted for approximately $913 million of the total liquidations, indicating that bullish leveraged bets absorbed most of the losses.
Ether Liquidations Exceed Bitcoin's Losses
CoinGlass data showed that cryptocurrency traders lost more than $1 billion through forced liquidations over the 24-hour period, with most of the activity concentrated in the final six hours.
Ether recorded approximately $448 million in liquidations, nearly twice Bitcoin's $272 million. The largest individual liquidation order involved an Ether position valued at $48 million.
The figures highlight how quickly leveraged positions can be wiped out when prices move sharply against traders. Although Bitcoin and Ether both recovered from their intraday lows, the initial decline triggered substantial forced selling across futures markets.
Nvidia Investigation Adds to Market Uncertainty
The volatility followed reports concerning Nvidia CEO Jensen Huang and an alleged connection involving Alice Huang, a business executive whom U.S. intelligence agencies reportedly believe was passing information to Beijing.
Nvidia's board confirmed that it had opened an independent investigation following the reports. Jensen Huang acknowledged having an affair with Alice Huang in a message to employees, apologized for the harm caused and said he had been unfaithful to his wife.
Nvidia said it had no reason to believe that national security information or company secrets had been compromised. However, the company said its investigation would examine all available information, with the board overseeing the review alongside independent outside counsel.
The allegations carry implications beyond the personal relationship because Nvidia occupies a central position in the artificial intelligence industry and the broader U.S.-China technology competition.
Washington maintains export restrictions on Nvidia's most advanced AI chips to China. Meanwhile, Megaspeed, a company linked to Alice Huang, has been accused of helping restricted Chinese firms obtain Nvidia chips.
Nvidia's position at the center of the AI boom has also made the company an important reference point for risk appetite across financial markets, including cryptocurrencies.
Stalled Iran Negotiations Add Geopolitical Pressure
Another source of uncertainty came from U.S. Secretary of State Marco Rubio, who said negotiations with Iran had stalled. The development added to concerns about geopolitical risks as traders assessed the latest headlines.
Because cryptocurrency markets remain open during the weekend, digital assets were among the first major financial markets to reflect the news. Bitcoin and Ether initially moved lower as traders reduced exposure to risk-sensitive assets.
The tokenized stock market had also responded negatively to the Nvidia-related developments, according to the report. The combination of corporate uncertainty and stalled diplomatic talks contributed to the volatile trading environment.
source: coindesk
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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The articles on Hokanews are here to keep you updated on the latest buzz in crypto, tech, and beyond—but they’re not financial advice. We’re sharing info, trends, and insights, not telling you to buy, sell, or invest. Always do your own homework before making any money moves.
Hokanews isn’t responsible for any losses, gains, or chaos that might happen if you act on what you read here. Investment decisions should come from your own research—and, ideally, guidance from a qualified financial advisor. Remember: crypto and tech move fast, info changes in a blink, and while we aim for accuracy, we can’t promise it’s 100% complete or up-to-date.
The articles on Hokanews are here to keep you updated on the latest buzz in crypto, tech, and beyond—but they’re not financial advice. We’re sharing info, trends, and insights, not telling you to buy, sell, or invest. Always do your own homework before making any money moves.
Hokanews isn’t responsible for any losses, gains, or chaos that might happen if you act on what you read here. Investment decisions should come from your own research—and, ideally, guidance from a qualified financial advisor. Remember: crypto and tech move fast, info changes in a blink, and while we aim for accuracy, we can’t promise it’s 100% complete or up-to-date.
