Bitcoin tumbles back below $88,000 as gains evaporate as quickly as they formed

• Wednesday's early U.S. rally in crypto suffered a near-instant reversal, sending bitcoin back to the $87,000 area minutes after it had jumped above $90,000.
• Artificial intelligence favorites Nvidia, Broadcom, and Oracle were sharply lower, dragging the Nasdaq down by more than 1%.

Crypto markets suffered major whipsaw action in morning U.S. trade, with bitcoin BTC$87,318.86 in the space of a few minutes rallying from around $87,000 to above $90,000 and then back to the $87,000 area.

The largest crypto was recently trading at $87,300, down by 0.5% over the past 24 hours after being higher by more than 3% minutes earlier.

The quick decline happened alongside sharp losses for artificial intelligence-related stocks, with Nvidia, Broadcom and Oracle suffering 3%-6% drops. The tech-centric Nasdaq was lower by more than 1%.

Helping to deflate AI sentiment, Blue Owl Capital was reported to have pulled out of funding a $10 billion deal for an Oracle data center in Michigan.

The sudden price swings triggered over $190 million in liquidations across crypto derivatives markets in the past four hours, CoinGlass data shows. The volatile action hit $72 million in long positions, seeking to profit from rising prices, and $121 million in shorts, betting on a decline.

Shrinking liquidity at the margin is the main culprit behind bitcoin's directionless trading, making it vulnerable to any outside pressure, Hunter Rogers, co-founder of the bitcoin yield protocol TeraHash, said in a note.

"I think we’re now seeing an exhausted market," he said. "In that environment, even mild selling activity pushes the market lower."

He added that BTC needs to hold the $80,000-$85,000 area as support, which could decide if fresh lows or a more sustainable rebound come next.

• As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
• GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
• Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.

• India's competition regulator has approved Coinbase's acquisition of a minority stake in CoinDCX, enhancing its presence in the Indian crypto market.
• The approval follows a challenging year for CoinDCX, including a significant security breach, though customer funds remained safe.
• Coinbase is renewing its focus on India, resuming user registrations and planning to introduce a rupee on-ramp in 2026.

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