Reason for Bitcoin crash today.
In the blink of an eye, Bitcoin (BTC) saw a tumultuous 24-hour period, marked by an 80.6% drop in Exchange-Traded Fund (ETF) inflows. The cryptocurrency’s price took a sudden nosedive below $66,699, causing alarm among investors. However, in a surprising turn of events, Bitcoin swiftly bounced back above $67,730, maintaining its strong market position with a cap of $1.322 trillion.
Bitcoin’s roller-coaster journey began with a sharp plunge, hitting a low of $66,952 during early Friday trading in Asia, representing a significant 7% decline. This sudden drop wiped out over $100 million in Bitcoin long positions, erasing gains made from its recent peak of $70K.
