PiCK

[Market] Bitcoin Falls Below $65,000 as Volatility Rises

Suehyeon Lee

Summary

Bitcoin (BTC) extended its decline, breaking below the $65,000 level.
Major altcoins including Ethereum (ETH), XRP, and Solana (SOL) were also broadly lower.
The sharp drop triggered forced liquidations of futures positions worth about $453 million across major exchanges.

Bitcoin (BTC) is extending its losses, slipping below the $65,000 level.

As of 10:50 a.m. KST on the 23rd, Bitcoin was trading at $64,839.54, down 4.76% from the previous day, according to CoinMarketCap. On Upbit’s KRW market, it was trading at 95.74 million won, down 3.78% from a day earlier.

Major altcoins, including Ethereum (ETH), were also broadly lower. Ethereum was down 5.71% from the previous day to $1,865.55 on CoinMarketCap, while XRP was trading at $1.33, down 6.38%. Solana (SOL) was also down 8.37% to $78.16.

Meanwhile, the sharp sell-off is believed to have triggered forced liquidations of futures positions worth about $367 million across major exchanges over the past hour. On a 24-hour basis, roughly $453 million in futures positions were forcibly liquidated.