Bitcoin’s 6% drop to below $67,000 sparks the largest forced deleveraging event since February, wiping out over $1 billion in positions.
Bitcoin’s sharp decline to a two-month low below $67,000 triggered over $1 billion in crypto liquidations within hours. The selloff, driven by geopolitical tensions and selling by major holders, marks the largest forced deleveraging event since February, according to exchange data.
The token has fallen nearly 50% from its October peak of around $126,000, pressured by reduced demand from exchange-traded funds and outflows from Strategy Inc. The firm’s first Bitcoin sale since late 2022 further weighed on sentiment, though traders noted momentum was already fading.
While equities rallied on hopes of a Middle East conflict resolution, Bitcoin’s slide underscored its vulnerability to macro headwinds and institutional shifts.