Bitcoin has experienced a rapid decline, marking one of the largest sell-offs in its history. This downturn in the cryptocurrency market triggered forced liquidations exceeding $1 billion within 24 hours in the derivatives sector. According to Bitcoin Magazine data, the world’s largest cryptocurrency broke key support levels, falling to around $62,000, representing its largest drop against the US dollar to date. Bitcoin had reached its highest price of $126,000 in October 2025, approximately $63,000 higher than the current value, indicating a nearly 50% decrease. This decline is considered one of Bitcoin’s major corrections, even surpassing the sell-off following the FTX crypto scandal.
The price drop is also attributed to global financial market uncertainty and changing macroeconomic conditions. High leverage in the derivatives market amplified the number of forced liquidations during the price decline, resulting in over $1 billion in positions being closed yesterday. The impact intensified when Bitcoin broke the crucial $70,000 support zone, prompting increased selling pressure.
In recent days, Bitcoin’s price has fallen significantly, about 35% lower than last year and 50% below its October peak. This downturn has also affected crypto-related stock markets, with notable declines in shares of major mining companies and crypto exchanges. During this period, BlackRock-managed iShares Bitcoin Trust (IBIT) set a record for daily trading volume but saw its share price drop by 13%, marking the second-largest daily loss since the fund’s inception. Overall, Bitcoin’s decline signals market uncertainty and increased risks for investors, with potential effects expected to continue in the coming financial days.
Source: bitcoinmagazine
