Three Factors Behind the $4 Billion Liquidation that Triggered Bitcoin's Plunge, According to Wintermute Analysis

On the 2nd, cryptocurrency market maker Wintermute released its latest analysis on the Bitcoin market. The report explains that Bitcoin's fall below $80,000 was not due to a single negative factor, but rather a combination of multiple macro factors and the unwinding of leverage, which they describe as a 'delayed risk-off.' This marks the first time since the April 2025 Trump tariff shock that Bitcoin has fallen below $80,000, with the weekend seeing liquidations amounting to approximately $2.55 billion (about 397 billion yen), making it the tenth largest liquidation event in the history of the cryptocurrency market.