According to data from OKX, Bitcoin briefly broke below the $60,000 level, hitting a low of $59,855 — its weakest point since October 14, 2024. Earlier this year, on February 6, Bitcoin had briefly touched $60,000, but the current price has now fallen below that benchmark.
Liquidation data from Coinglass shows that in the past four hours, total liquidations across the entire crypto futures market amounted to $424 million, with long positions suffering $386 million in losses, accounting for over 90% of the total. Bitcoin-specific liquidations alone totaled $162 million, indicating a strong bearish momentum in the short term.
This decline pulls Bitcoin out of the consolidation range it had maintained over the past two months, fueling a more pessimistic market sentiment. At the time of writing, Bitcoin is trading around $59,855 with a significant 24-hour decline.