The price of Bitcoin (BTC) took a sudden plunge earlier today, leading to over $660 million in crypto liquidations within a 24-hour period. This sharp drop impacted nearly 200,000 traders.
Bitcoin fell by a significant 7.5% in just a few hours, going from $72,000 down to $66,500. The price experienced a slight recovery, reaching $68,000 again, but faced resistance and dipped further to around $67,500. This represents an 8.3% decrease compared to its all-time high of $73,737 set just yesterday.
Possible explanations for the sell-off include a weakening narrative surrounding exchange-traded funds (ETFs) and recent economic data from the United States.
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