Major digital assets experienced significant downward pressure on Thursday as fading expectations for monetary policy easing triggered a broad market selloff. Bitcoin, the leading cryptocurrency by market capitalization, breached the $87,000 threshold for the first time in seven months amid heightened volatility across digital asset markets. The benchmark cryptocurrency’s decline contributed to substantial market-wide liquidations approaching $1 billion, reflecting intensified selling pressure across trading platforms. Ethereum, the second-largest cryptocurrency, and XRP both mirrored Bitcoin’s downward trajectory as investor sentiment turned cautious. Market analysts attribute the selloff to shifting macroeconomic expectations, particularly regarding potential interest rate adjustments. The substantial liquidation figures indicate forced position closures across leveraged trading products, exacerbating the market’s downward momentum. Trading volumes surged as market participants adjusted their positions in response to the price movement. This correction represents one of the most significant single-day declines in recent months, testing key support levels that had previously held through earlier market fluctuations. Market observers note that such volatility periods often present both challenges and opportunities for investors navigating the dynamic cryptocurrency landscape.
