Bitcoin experienced its worst crash since 2022, slipping to around $60,000 on Friday, erasing the gains it had accumulated since Donald Trump’s 2024 re-election and marking a fall of more than half from its record highs above $127,000 last October. According to data from Coinglass, about $1.25 billion of bitcoin positions were liquidated in a 24-hour period from Thursday to Friday. By the time of writing, bitcoin had rebounded to about $69,000. The rebound followed the Friday move that took prices near $60,000.
It was the steepest drop since 2022, underscoring the volatility in the Bitcoin market. The liquidations underscored the volatility surrounding the week.
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