Bitcoin Slides to Lowest Levels Since Late 2024 as Crypto Market Turmoil Deepens

Bitcoin’s price plunged sharply on Thursday, falling below key psychological support levels and reaching its weakest point since late 2024, as risk-off sentiment gripped global markets and volatility in technology and other risk assets intensified.

The largest cryptocurrency by market capitalization dropped more than 10% during Thursday trading, dipping below $65,000 for the first time in over a year, with some benchmarks near $63,000–$64,000 by the end of the day.

The selloff in Bitcoin has been amplified by broader financial market weakness, including steep declines in major U.S. stock indexes and heightened liquidation of leveraged crypto positions, according to market reports.

Strategists point to a combination of factors behind the downturn:

• Liquidation of leveraged Bitcoin bets, which forced further selling into an already fragile market.

• Weakening investor appetite for risk assets, as equities and other speculative instruments came under pressure.

• Reductions in crypto ETF holdings, as market participants trim exposure to digital assets.

The broader cryptocurrency sector also suffered significant losses, with total market value declining sharply in tandem with Bitcoin’s slide, suggesting contagion effects across tokens and crypto-linked equities.

This downturn underscores the heightened fragility of the crypto market, which has now retraced a substantial portion of last year’s gains amid renewed risk aversion among investors.