Bitcoin Price Drops Below $67,000 as Liquidations Fuel Market Sell-Off

Bitcoin extended its losses today, falling more than 6% in a single day and dropping below $67,000 for the first time since early April.

The sharp decline triggered a wave of liquidations across the crypto market, with total liquidated positions reaching approximately $1.25 billion within 24 hours.

The sell off erased months of gains and intensified concerns about the market’s near term direction. S&P500 continued to climb, Bitcoin moved in the opposite direction, highlighting growing caution among digital asset investors.

Analysts Warn of Further Downside Risk

Market analysts believe Bitcoin could face additional pressure in the coming weeks. Some traders are watching the $66,250 level closely, while others suggest that a move toward the low-$60,000 or even mid-$50,000 range cannot be ruled out if selling momentum continues.

Rising open interest and heavy spot market selling have also contributed to increased volatility, creating conditions for further liquidations.

Bearish Technical Pattern Returns to Focus

Several analysts pointed to a recurring bear flag pattern on Bitcoin’s chart, arguing that the latest decline follows a familiar market structure seen during previous downturns. If weakness persists, traders expect Bitcoin to remain under pressure as investors look for stronger signs of support and market stabilization.