On February 4th at midnight Beijing time, overnight US stocks were affected by a sell-off in software stocks and escalating tensions between the US and Iran, leading to weakness in large tech stocks, with all three major indices declining. The more speculative cryptocurrency market also plummeted again. Bitcoin briefly dropped 7% during the session, falling below $73,000.
Bitcoin and Ethereum fell nearly 4%, while Solana dropped over 5%. According to coinglass data, in the past 24 hours, more than $700 million in cryptocurrency contracts were liquidated, affecting as many as 169,800 people.
