Bitcoin tumbles below $69,000 as Nvidia turmoil adds to Fed-driven market jitters

BREAKING: Bitcoin tumbles below $69,000 as Nvidia turmoil and Fed jitters rattle markets, with $798 million in crypto positions liquidated over the past four hours, $718.5 million of them longs. $BTC

Bitcoin just fell below sixty nine thousand dollars.

In the past four hours alone, 798 million dollars in crypto positions were liquidated. Of that, 718 and a half million were longs, traders betting the price would go up. They got flushed out almost all at once.

The pressure is coming from two directions. The Federal Reserve has markets nervous about rates, and the ongoing turmoil at Nvidia keeps dragging on risk appetite everywhere. When the biggest name in tech wobbles for six straight weeks, money gets pulled from the riskiest corners first, and crypto is always first in that line.

The number that matters here is the ratio. Ninety percent of those liquidations were longs. That tells you how one sided the positioning was, and how little warning anyone had. Leverage works until the day it doesn't, and today it didn't.

This is Sara White, reporting for HIT.