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Bitcoin (BTC) 
$0.00004 has seen a decline of 1.67% in the last 24 hours, dropping to $88,275. During the day, it fell as low as $86,000, significantly distancing itself from its all-time high of $109,114 reached a month ago. This sudden drop has incited panic on social media, leading to heightened market volatility.
Bitcoin’s Price Drop and Liquidations
The drop to $86,000 has resulted in substantial losses within the market. In the last 24 hours, a total liquidation of $1.5 billion occurred, with the majority stemming from Bitcoin, which faced a liquidation of $337 million.
Ethereum (ETH) 
$2,533 saw liquidations of $77.86 million, while Solana 
$170 (SOL) faced $26.58 million in liquidations. Other altcoins like XRP also encountered significant sell-offs. Despite XRP gaining 3.55% to reach $2.28 during the day, market fluctuations have left investors feeling uneasy.
Experts Share Critical Insights on Bitcoin
Leading experts emphasize that it is crucial for Bitcoin to remain above $87,000. Notable market analyst Michael Van De Poppe mentioned on X that “Bitcoin has retreated to the $83 – $87,000 range. Today is critical. If the leading cryptocurrency closes above $87,000 and altcoins start performing positively, it could be a good sign.”
Analysts suggest that the prevailing atmosphere of panic in the market could signal a potential turnaround. Historically, recovery processes often follow significant sell-offs. However, it is emphasized that it is still too early to definitively state that the downturn has ended.
Currently, Bitcoin is experiencing a slight recovery, trading at $89,239.
