"Bitcoin's price crashed sharply on Thursday, sliding through critical support and dipping near $66,000 in volatile trading - marking what appears to be the largest absolute dollar drawdown on record for the world's largest cryptocurrency. The latest plunge comes during a broader global risk-off sell-off, with equities, commodities and digital assets all under pressure. Major U.S. and Asian stock indices weakened on economic growth concerns"
"Bitcoin's October 2025 peak - above $126,000 on major exchanges - now sits roughly $59,000 above today's lows, a drop unprecedented in raw dollar terms. While previous drawdowns have been steeper on a percentage basis, the sheer scale of this retreat in nominal USD terms eclipses the declines seen in 2018, 2022 and other major corrections, according to Bitcoin Magazine Pro data."
"By comparison, historic price cycles saw drops from roughly $20,000 to $3,000 in 2018 or from $69,000 to $15,000 in 2022 - both sizeable percentage falls but involving smaller absolute dollar moves than the current contraction. Analysts now describe the decline as the largest dollar value drawdown in Bitcoin's history. Bitcoin price's broader crypto market drivers Broader markets faced a sharp sell-off this week, with risk assets across the board under pressure. U.S. equities tumbled, led"
Bitcoin plunged sharply through critical support to near $66,000, producing the largest absolute dollar drawdown on record from its October 2025 peak above $126,000. The nominal drop of roughly $59,000 exceeds prior cycles' absolute losses, though earlier corrections were larger percentage declines. Global risk-off pressures drove selling across equities, commodities and digital assets as economic growth worries and inflation data weakened major U.S. and Asian indices. The slide breached technical supports, triggering forced liquidations and panic selling in crypto markets. Speculative commodities fell double digits and the total cryptocurrency market lost over $500 billion in value over the past week.
Read at Bitcoin Magazine
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