Bitcoin Tumbles Below $65,000 Amid Market Squeeze

Bitcoin's value dropped sharply yesterday, falling below the crucial $65,000 mark to a low of $64,232.8. This decline had a ripple effect throughout the market, with other major cryptocurrencies such as Ethereum, XRP, BNB, and SOL experiencing losses ranging from 6% to 8%.

The impact on investors was severe, with over 130,000 people being liquidated across the network in just 24 hours. This resulted in a staggering total loss of $458 million. The cryptocurrency market has been struggling since the beginning of 2026, with many experts predicting that this decline may be the result of a shift away from speculation and towards more institutional investment.

According to Mike Novogratz, founder of Galaxy Digital, this recent collapse in Bitcoin reflects a significant transformation in the industry. As more institutions enter the market, the growth model driven by speculation may be coming to an end.