Single-Day Plunge of Nearly 20%: How Long Has It Been Since You Last Saw Bitcoin at $60,000?
Cryptocurrency markets experienced their most severe sell-off of the year, with Bitcoin plunging nearly 20% in 24 hours to briefly touch $60,000, its lowest level in months. Ethereum fell below $2,000, dropping to as low as $1,744, while Solana and other major altcoins also saw declines exceeding 12–19%. The total market liquidation surpassed $2.66 billion, with long positions accounting for 87% of the forced closures.
The sharp decline was driven by multiple factors, including concerns over potential hawkish monetary policy from the new Fed chair nominee, a strong rebound in the U.S. dollar index, and sustained outflows from institutional Bitcoin and Ethereum ETFs. Market sentiment remains fragile, with high sensitivity to macroeconomic and geopolitical news.
Analysts expect continued volatility rather than a quick V-shaped recovery, citing structural weakness in altcoins, reduced retail speculation, and heightened risk aversion. Investors are advised to practice strict risk management, avoid over-leveraging, and focus on high-quality projects with strong fundamentals while maintaining a long-term perspective.
marsbit02/06 00:59