Bitcoin Plunges to Week's Low of $65K, Investors Beware of Volatility Ahead

By: Isha Das

Bitcoin, after hitting a series of record highs, has now fallen to a week's low at $65,000, prompting a reevaluate of market dynamics. Bitcoin, once hovering around $68k, fell to $67k and now sits at a weekly low of $65,710, down by 5.6% over 24 hours and 4.5% over the week (source).

Altcoins such as Ethereum (ETH) and Binance Coin (BNB) have also seen significant value loss of up to 10%, with meme coins Dogecoin and Shiba Inu experiencing even steeper declines. This downturn has led to over $426 million worth of market liquidations, with Bitcoin facing the brunt of the blow. In the last 24 hours alone, Bitcoin liquidations have exceeded $104 million (source).

The current market configuration implies potential further downtrends, according to some financial experts, including Markus Thielen, CEO of 10x Research. Thielen pointed out concerns such as low trade volumes and liquidity and warned investors of potential falls to $63,000.