Bitcoin Slips to $78K in Overnight Market Pullback
Bitcoin fell 2% to $78,111 overnight as 95 out of the top 100 crypto assets took a beating right along with it.
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Key takeaways
- Bitcoin dropped 2% over 24 hours to trade at $78,111.
- The pullback hit broad market depth, with 95 of the CoinDesk 100 falling.
- The vast majority of the price damage took place overnight.
Bitcoin dropped 2% over 24 hours to trade near $78,111. An overnight slump dragged down virtually every major asset in the sector with it.
Nobody got off easy. Out of all the tokens tracked by the CoinDesk 100 index, 95 slid lower over the same period. Most of the damage happened during overnight hours. Traders barely had time to react before prices hit bottom.
Why it matters
When 95 out of 100 top tokens slide at once, forget about token-specific bad news. That's a sudden, market-wide liquidity exit. If you're holding smaller caps or running leveraged positions, overnight dumps like this are a cold reminder of how fast sentiment turns ugly.
Source: CoinDesk
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