Bitcoin Price Plunges Toward $60,000 as $1 Billion in Liquidations Hit in 24 Hours
Bitcoin experienced a dramatic selloff, dropping near $62,000 and triggering over $1 billion in forced liquidations, primarily long positions.Summary
Bitcoin is undergoing a severe selloff, plunging toward the $62,000 support level, marking the largest raw dollar drawdown ever recorded for BTC. This drop represents a 50% correction from its October 2025 all-time high above $126,000, placing it among Bitcoin's most extreme historical corrections. The price collapse was amplified by leveraged derivatives, leading to over $1.1 billion in forced liquidations in the last 24 hours as support near $70,000 failed. This sharp decline has negatively impacted crypto-linked stocks, with miners, Coinbase, and Robinhood shares falling significantly, and BlackRock's IBIT ETF experiencing a 13% plunge on record volume. At the time of writing, Bitcoin was trading just below $64,000, with indicators suggesting limited support before potentially reaching sub-$60,000 levels.
(Source：Bitcoin Magazine)