Crypto Market Wipes Out $200 Billion as Bitcoin Falls Below $62,000
The cryptocurrency market lost roughly $200 billion in value over 24 hours as Bitcoin fell below $62,000, triggering the largest wave of leveraged liquidations since January.
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The cryptocurrency market lost roughly $200 billion in value over 24 hours as Bitcoin fell below $62,000, triggering the largest wave of leveraged liquidations since January.
The crypto market extended its sharp decline as Strategy added more bitcoin despite mounting losses, while forced liquidations accelerated across exchanges. Bitcoin’s drop below $70,000 triggered heavy unrealized losses and dragged crypto-linked stocks sharply lower.
Bitcoin has fallen more than $53,000 over the past 120 days, erasing over $1.1 trillion in market value and sliding deeper into a bear market. The decline stands in stark contrast to U.S. stock indices, which remain close to record highs.
The cryptocurrency market has entered a sharp downturn, with bitcoin falling below $75,000 and roughly $700 billion wiped out in two weeks. Selling pressure is spreading across commodities, equities, and digital assets, fueling fears of deeper losses.
Bitcoin briefly fell below $90,000 amid more than $1 billion in liquidations, even as MicroStrategy and El Salvador ramped up purchases. Forecasts for long-term BTC gains remain sharply divided.
Bitwise CIO Matt Hougan outlined a bullish thesis for Solana (SOL), arguing it can mirror Bitcoin’s early dominance by tapping tokenisation and stable-coin growth.
JPMorgan Chase & Co. is reportedly preparing a program to allow institutional clients to use Bitcoin and Ethereum holdings as collateral for loans by the end of this year.
BitMine chair Tom Lee and BitMEX co-founder Arthur Hayes remain confident that Ether will hit $10,000 this year, despite a recent market crash and only months left in 2025.
A crypto whale placed a $900 million short bet against Bitcoin and Ethereum, signaling growing bearish sentiment amid volatile market conditions.
President Trump announced plans to impose an additional 100% tariff on Chinese imports, triggering an estimated $18 billion sell-off in crypto markets as investors react to renewed trade tensions.