🚨 BREAKING: More Than $350 BILLION WIPED FROM CRYPTO MARKET** as Bitcoin Falls Under $61,000
Bitcoin’s price has plunged below $61,000, deepening the sell-off and triggering one of the sharpest drawdowns in recent history.
📉 This crash has erased hundreds of billions of dollars in total crypto market capitalization — a level over $350 billion lost as traders and holders react to steep declines in BTC and broader digital assets.
📊 What’s Driving the Bloodbath
• BTC price weakness: Bitcoin slipped sharply — dipping under key psychological levels like $61,000 and even lower — dragging sentiment across the whole market.
• Heavy leveraged selling: Forced liquidations and risk-off positioning in derivatives and spot arenas intensified the downward pressure.
• Correlation with broader markets: Crypto has been reacting to macro risk-off flows, tech weakness, and wider risk sentiment, which usually amplifies sell-offs in BTC and altcoins.
🔥 Market Context
This kind of wipeout hasn’t just hurt price — it has erased nearly all gains from the past 15 months, marking a major correction phase in the 2026 crypto cycle. BTC’s October 2025 peak above $125,000 is now almost cut in half on a valuation basis.
Across the ecosystem:
* Ether and other large caps have dropped significantly
* Spot Bitcoin ETFs have shifted from strong inflows to net outflows
* Liquidations and margin calls are washing out short-term levered positions
💡 Simple Takeaway
When Bitcoin cracks below key support like $61K, it doesn’t just move one asset’s price — it **moves the entire crypto landscape**:
👉 *Hundreds of billions gone*
👉 *Sentiment weakened*
👉 *Volatility spiked*
This isn’t just a price drop — it’s a structural drawdown phase** that tests both holders and traders alike.
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