Bitcoin Trades Near $80,222 as Sentiment Slumps and CZ Notes Buying Opportunities

Bitcoin traded around $80,222 as the total cryptocurrency market capitalization fell 2.83% to approximately $2.70 trillion amid heightened volatility. The downturn followed an intraday drop to $79,220 before a rebound to near $80,872, prompting $841 million in crypto liquidations over a 24-hour period that mostly hit long positions. The decline was fueled by US-Iran tensions, institutional outflows, and hotter-than-expected US inflation figures. Amid the slump, Google Trends searches for 'Bitcoin is dead' reached their highest level since November 2022, prompting Binance founder Changpeng Zhao to call such negative sentiment periods historical buying opportunities.