Bitcoin experienced its largest sell-off of the year, dropping 18% and leading to the liquidation of over $2.6 billion in positions, compounded by institutional outflows and a stronger dollar.
Bitcoin dropped 18% to $60,000 in the past 24 hours, marking the crypto market's worst sell-off of the year. Over $2.66 billion in positions were liquidated, and Ethereum fell below $1,900. Institutional outflows and a stronger dollar played key roles in the downturn.