BTC Remains Above $79,000 Amid Ongoing Global Market Sell-Off
Bitcoin traded above $79,000 amid a global sell-off impacting East Asian markets. Key points include:
- CoinDesk 20 index down 8%
- Hong Kong’s Hang Seng Index down over 8%
- Shanghai’s SSE Composite Index down 7%
- Taipei’s TAIEX down 9%
- Alibaba shares down 12%, Tencent down 9%
- TSMC stocks dipped 10%, triggering trading halts
- TSMC's correction linked to uncertainty around the CHIPS Act
- Nvidia showing higher volatility than Bitcoin or Ethereum
- Ethereum down 11%, XRP down 9%, Solana down 10%
- Lending protocols Maker and Aave down around 14%
- $675 million in long positions liquidated in the last 12 hours
- TRUMP meme coin down 13%