$BTC Bitcoin has shown extreme volatility in recent days, with sharp sell-offs followed by partial recoveries amid macroeconomic pressures and market liquidations. Key developments include Binance purchasing 3,600 BTC for its reserves after a crypto market wipeout of nearly $2 trillion.
Price Movements Bitcoin's price swung wildly, dipping below $61,000 during intensified sell-offs before rebounding toward $70,000, its steepest drop since the 2022 FTX collapse.
It later stabilized near $78,000–$90,000 levels, influenced by Fed policy speculation, ETF outflows, and geopolitical tensions, with drops tied to over $2 billion in liquidations.
Market Drivers Factors like a strengthening US dollar, potential Fed leadership changes under Kevin Warsh, and thin weekend liquidity fueled declines, while institutional buying and regulation talks provided some support.
The global crypto market cap fell below $2.7–$3 trillion at points, with Bitcoin holding key supports around $75,000–$80,000.
Expert Views Analysts note ongoing fear despite rebounds, with Peter Schiff criticizing Wall Street's role in BTC's struggles compared to soaring gold prices.
Sentiment remains cautious ahead of Fed meetings, with potential for $80,000+ recovery if supports hold.
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