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United States-based crypto markets experienced a sharp sell-off on Friday, with more than $700 million in leveraged positions liquidated within 24 hours across major digital asset exchanges. Bitcoin, the largest cryptocurrency by market value, fell more than 3% during the session and hovered near the $73,000 level as risk-off sentiment spread through the sector. Ethereum, the second-largest cryptocurrency, posted an even steeper decline, dropping below the key $2,000 psychological support level and underscoring mounting technical pressure on alternative tokens. The widespread liquidations primarily affected highly leveraged long positions, which were forced out as prices moved lower at speed. Global analysts linked the downturn to a combination of rising geopolitical tensions between the United States and Iran, heavy institutional outflows from cryptocurrency exchange-traded funds, and persistent concerns about sustained high global interest rates. The shift in sentiment prompted investors to rotate capital away from risk-heavy digital assets and into safer financial instruments, even as volatility in traditional equity markets eased. Market observers said Ethereum’s relative weakness compared with Bitcoin highlighted a broader retreat from altcoins, while traders continued to watch whether Bitcoin could maintain key support levels above the $70,000 range as institutional positioning adjusted.

Prepared by Christopher Adams and reviewed by editorial team.