Crypto Market Plunges with Bitcoin Below $65,000 and Record Liquidations

The crypto market has been experiencing a feeble trend since the beginning of this year, marked by pessimism and frequent reports of sell-offs.

In the past 24 hours, Bitcoin saw a drastic drop, falling below the $65,000 mark to hit a low of $64,232.8. This downward spiral affected not only Bitcoin but also other major cryptocurrencies such as Ethereum, XRP, BNB, and SOL, which experienced drops ranging from 6% to 8%.

Industry data revealed that over 130,000 individuals were liquidated across the network in a short span of time. The total liquidation amount reached an alarming $458 million.