Bitcoin price is experiencing one of the most dramatic selloffs in its history Thursday, sliding sharply through key support levels and sparking massive liquidations in the derivatives market.\u00a0<\/p>\n
According to Bitcoin Magazine Pro data, the world\u2019s largest cryptocurrency crashed through critical floors, dipping towards<\/a> the $62,000 floor, marking the largest raw dollar drawdown ever recorded for BTC.<\/p>\n The October 2025 all-time high above<\/a> $126,000 now sits roughly $63,000 above current bitcoin price levels, as panicked selling intensified across exchanges.\u00a0<\/p>\n This drawdown is now 50% from all-time highs and places it alongside some of Bitcoin\u2019s most extreme historical corrections, even greater than the selling that took place<\/a> around the FTX crash.<\/p>\n Bitcoin price\u2019s sustained downtrend has erased nearly half of its peak value, while broader risk assets have weakened amid global market stress and shifting macro sentiment.<\/p>\n The severity of the move was amplified by leveraged derivatives.\u00a0<\/p>\n As the bitcoin price collapses, forced liquidations are surging, with over $1 billion in positions wiped out over the past 24 hours, predominantly long bets facing automatic close-outs as BTC broke key levels, according to Coinglass data<\/a>.\u00a0<\/p>\n Traders who entered positions on recent strength were hit as support near $70,000 failed to hold earlier today, feeding a feedback loop of deleveraging that pushed price deeper into the $60,000 range.<\/p>\n BTC\u2019s breakdown comes after an initial retracement from levels above $90,000 just eight days ago. Bitcoin price is now down nearly 35% over the past 12 months and about 50% below its October peak, according to Bitcoin Magazine Pro data.<\/p>\n Thursday\u2019s plunge also saw the asset breach multiple support zones<\/a>, with volatility spiking as BTC\u2019s structure shifted decisively bearish. Indicators suggest there are limited stops before the sub-$60,000s.<\/p>\n Crypto-linked stocks were hammered Thursday as Bitcoin\u2019s sharp selloff spilled into equity markets. Shares of major miners such as Riot Platforms and MARA Holdings plunged in double-digit declines as bitcoin.<\/p>\n Crypto-exposed firms like Coinbase and Robinhood also fell<\/a> into the double digits.The broader market downturn added pressure, with tech and other high-beta assets selling off alongside digital assets. <\/p>\n The iShares Bitcoin Trust (IBIT), a spot Bitcoin ETF managed by BlackRock that lets investors gain exposure to Bitcoin without holding the crypto directly, just crushed its daily volume record with about $10 billion worth of shares traded \u2014 even as its price plunged<\/a> 13%, marking the second\u2011worst one\u2011day drop since the fund\u2019s launch.<\/p>\n Shares of Strategy ($MSTR) are down<\/a> over 15% today, with earnings coming later tonight. At the time of writing, bitcoin is trading right below $64,000. <\/p>\nOver $1.1 billion of forced liquidations in the last day<\/h2>\n
Bitcoin price support zones <\/h2>\n
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