Crypto: Bitcoin Sees Record $10k Drop As Model Says $93.5k May Only Return...

Bitcoin fell by more than $10,000 in a single day for the first time, with BTC price bear market analysis warning that a rebound could take several years.

Bitcoin (BTC) liquidated billions of dollars going into Friday as BTC price action set bearish records.

Bitcoin liquidates $2.6 billion as it sees its first red $10,000 daily candle ever.

BTC price action dives further in percentage terms than on any day since the 2022 bear market.

It may take until 2028 for Bitcoin to return above $93,500 again.

Data from TradingView showed BTC/USD consolidating after bouncing from $59,930 — its first trip below the $60,000 mark since October 2024.

Sustained selling pressure during Thursday’s US trading session eventually sparked a liquidation cascade, with $2.6 billion in crypto positions wiped out over 24 hours, per data from CoinGlass.

Commenting, crypto market participants noted that the liquidation tally had surpassed both the COVID-19 crash from March 2020 and the reaction to the implosion of exchange FTX in late 2022.

COVID crash: $1.2B in liquidations. FTX crash: $1.5B in liquidations. Random Thursday (today): $1.7B in liquidations. pic.twitter.com/iY1vaYCjnd

Bitcoin price action also brought back historical bear-market records elsewhere.

Source: CoinTelegraph