Bitcoin Plunges to $58,000 Amid Liquidations and Option Expiry
Bitcoin experienced a sharp decline, falling to $58,000 as $450 million in leveraged long positions were liquidated, adding to market volatility already impacted by strategy criticism and a massive $10 billion option expiry.
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Bitcoin dropped to $58,000 as $450M leveraged longs liquidated in 60 minutes
Crypto markets saw $450M in leveraged long liquidations as Bitcoin fell to $58,000, triggering forced selling, volatility, and a sharp market drop.
Read full article →Bitcoin Tumbles As Strategy Slammed, Faces Massive $10 Billion Option Expiry
Bitcoin Tumbles As Strategy Slammed, Faces Massive $10 Billion Option Expiry Moments after the cash market opened, bitcoin plunged almost $3,000 in a matter of seconds to $58,000, on no news, sending the price to the lowest level since Sept 2024. This was a strange move for bitcoin because while stocks do tend to move rapidly at cash open as that's when options restart trading (as we have noted, in recent months most investors are trading almost exclusively in options and av...
By Tyler Durden
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