Bitcoin stuck below $80,000 as leveraged longs unwind, altcoins slide

Crypto markets weakened as inflation fears hit risk assets, triggering long liquidations, negative derivatives flows and renewed pressure on altcoins. What to know : Bitcoin held below $80,000 after Wednesday's stronger-than-expected U.S. producer price inflation data sparked a risk-off move and wiped out leveraged bullish bets. Crypto derivatives markets showed signs of stress, with liquidations surging to nearly $400 million and ether open interest hitting a record high. Altcoins slid sharply, with memecoins leading losses as negative cumulative volume delta signaled persistent selling pressure across major tokens.