Daily Market Update: Stock Futures Tumble as Amazon Tanks and Bitcoin Swings $6,000 in Hours

TLDR

• Bitcoin fell as low as $60,033 before rebounding to $65,926 after Thursday’s 13% drop, its worst one-day decline since November 2022
• About $700 million in leveraged crypto positions were liquidated in four hours, with $530 million in long positions and $170 million in shorts
• Michael Saylor’s Strategy reported a $12.4 billion fourth-quarter net loss driven by mark-to-market declines in its bitcoin holdings
• S&P 500 futures dropped 0.1% and Nasdaq 100 futures fell 0.3% as Amazon shares plunged over 10% after-hours on weak earnings
• Stock futures declined early Friday as tech sell-off continued, with S&P 500 and Nasdaq Composite now negative for 2026

Stock futures moved lower early Friday as investors processed another round of volatility across crypto and technology markets. S&P 500 futures dropped 0.1% while Nasdaq 100 futures fell 0.3%. Futures tied to the Dow Jones Industrial Average declined 0.1%.

The overnight moves followed a sharp sell-off during Thursday’s regular session. The S&P 500 and Nasdaq Composite have now slipped into negative territory for 2026. Technology stocks led the downturn once again.

Amazon added to market concerns after the bell. Shares plunged over 10% in after-hours trading after the company posted earnings per share that missed Wall Street estimates. The company also projected capital expenditures of $200 billion for the year, raising concerns about AI spending levels.

Bitcoin experienced extreme volatility in Asian trading hours. The cryptocurrency fell as much as 4.8% to around $60,033 during late U.S. hours. It then snapped back to as high as $65,926 in Friday’s Asian session.

The rebound followed Thursday’s 13% slide. That marked bitcoin’s steepest one-day drop since November 2022. The November 2022 crash was triggered by the collapse of Sam Bankman-Fried’s FTX exchange.

Massive Liquidations Drive Crypto Whipsaw

Liquidations surged again as bitcoin bounced back from $60,000. Roughly $700 million in crypto bets were wiped out over four hours, according to liquidation tracker CoinGlass. The liquidations included about $530 million in long positions and $170 million in shorts.

The mix suggests traders were first crushed on the way down. They were then caught leaning the wrong way on the rebound. The $60,000 level acted as a psychological line that traders have been watching for weeks.

Damien Loh, chief investment officer at Ericsenz Capital, said the rebound points to strong support around that level. He warned sentiment remains fragile given the broader market backdrop. Bitcoin has now fallen more than 50% below its October peak.

Altcoins mirrored bitcoin’s whipsaw movements. Solana fell as much as 14% before erasing those losses entirely within hours. The rapid reversals show how quickly risk appetite is flipping as liquidity thins.

Strategy Reports $12.4 Billion Loss

The crypto market turbulence is now spilling into crypto-linked balance sheets. Strategy, the company led by Michael Saylor, reported a $12.4 billion fourth-quarter net loss on Thursday. The loss was driven by mark-to-market declines in its bitcoin holdings.

The broader crypto market has been shaky since a series of liquidations in October rattled confidence. The latest drawdown has been amplified by turbulence in global markets. Investors have been dumping speculative assets across multiple sectors.

Even with Friday’s bounce, traders say the market still looks like one being pushed around by leverage. The moves appear driven by forced selling rather than long-term conviction. The risk-off tone extended beyond equities and crypto into other assets.

Silver resumed its decline after a recent surge fueled by retail investor interest. Strategy shares moved lower following the loss announcement. Bitcoin continued touching levels not seen since 2024.

Some stocks moved higher in after-hours trading. Reddit reported a quarterly earnings beat and issued upbeat guidance. The company also announced a stock buyback program, sending shares upward.

Roblox shares also surged in extended trading. Looking ahead, investors will focus on earnings from Toyota and Philip Morris, due before Friday’s opening bell. The closely watched nonfarm payrolls report has been pushed to Wednesday next week following the resolution of the federal government shutdown.

The post Daily Market Update: Stock Futures Tumble as Amazon Tanks and Bitcoin Swings $6,000 in Hours appeared first on CoinCentral.