Bitcoin Price Plunge Triggers Massive Liquidations

The Bitcoin market experienced significant volatility recently, with the price dropping below $65k. In a 60-minute period, over $230 million worth of leveraged long positions were liquidated.

This sudden decline has raised questions about the cryptocurrency's behavior in times of market stress. Critics argue that Bitcoin does not act like 'digital gold' when prices plummet, instead mirroring the performance of tech stocks.