Bitcoin (BTC) dropped to early July levels on Friday morning amid a broader sell-off in the cryptocurrency market, as U.S. equity markets showed signs of an uptrend.

Bitcoin’s price dipped more than 1.8% in the last 24 hours. On Stocktwits, retail sentiment around the apex cryptocurrency remained in ‘bearish’ territory over the past day. Meanwhile, Ethereum (ETH) showed the most gains, rising nearly 3% in the last 24 hours to trade around $3,700. Retail sentiment on Stocktwits around the second-largest cryptocurrency by market value was in the ‘bullish’ zone.

According to data analytics platform Lookonchain, the fall in Bitcoin’s price may have something to do with Galaxy Digital (GLXY) moving thousands of BTC to exchanges. According to data from the platform, the company transferred nearly 30,000 Bitcoin, worth around $3.5 billion, to exchanges. Galaxy Digital then withdrew $1.15 billion in USDT from those exchanges. Its total Bitcoin holdings now stand at 18,504. 

Volatility in the crypto market led to more than $539.24 million in liquidations over the past day, according to Coinglass data. Most of the liquidations originated from long bets – traders who bet the price would rise, totaling around $380 million. Short liquidations were $158.35 million. Bitcoin and Ethereum (ETH) experienced the largest liquidations of $159 million and $132 million, respectively. 

Among major cryptocurrencies, the only cryptocurrency to slide more than Bitcoin in the last 24 hours was Solana (SOL). Solana’s price dropped 2.8% over the past day. On Stocktwits, retail sentiment around the altcoin continued to trend in ‘extremely bullish’ territory during the same period. 

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Tron (TRX) also gained after the founder of the Tron Ecosystem, Justin Sun, who is also an ally of President Donald Trump, rang the bell for Tron Inc.’s (TRON) debut at the Nasdaq on Wednesday. While Tron’s stock fell 10% on Wednesday, the TRX token’s price was up 2.4% in the last 24 hours. The stock rose 4.5% in pre-market trade on Thursday.

XRP’s (XRP) price gained 0.9% in the last 24 hours, while Dogecoin’s (DOGE) price dipped by 1.2%. Cardano’s (ADA) price gained 2.1%. 

Crypto-linked stocks were in the red in pre-market trade on Friday. Shares of Strategy (MSTR), the largest corporate holder of Bitcoin, dipped more than 2%. Retail sentiment around Strategy’s stock fell to ‘bearish’ territory from ‘neutral’ a day ago. 

Shares of crypto exchange Coinbase Global (COIN) dipped 1.33% in early morning trading, while Robinhood (HOOD) was down 0.8%. Bitcoin miners Riot Platforms (RIOT) and Marathon Digital (MARA) were also in the red. Riot’s stock fell 2.2% while Mara’s stock tumbled more than 3% in pre-market hours. 

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