Bitcoin crashes to $67K erasing gains since 2021 as liquidations top $1.4B
Bitcoin dropped to $67,000, erasing 2021 gains, amid over $1.4 billion in liquidations and significant outflows from BTC ETFs.Summary
Bitcoin experienced a sharp decline, falling to $67,000 and breaking below its 2021 all-time high, effectively wiping out nearly all gains since the November 2022 bear market bottom. This selloff was exacerbated by heavy leverage, leading to over $1.4 billion in liquidations within 24 hours. Other major cryptocurrencies also plunged, with Ethereum falling below $2,000. Furthermore, spot Bitcoin ETFs saw net outflows exceeding $800 million over two days. The broader market felt the pressure, as the S&P 500 and Nasdaq declined, and precious metals like silver and gold also saw steep drops, marking one of the sharpest cross-asset resets since late 2022. Corporate holders like Strategy are now facing multi-billion dollar paper losses on their crypto holdings.
(Source：Crypto Briefing)