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Bitcoin Collapses by $6,000 in Mere Hours

Thu, 3/04/2025 - 8:05
Bitcoin has collapsed by a staggering 7% within hours
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Bitcoin Collapses by $6,000 in Mere Hours
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On Wednesday, Bitcoin experienced another bout of extreme volatility, losing $6,000 in the span of several hours. 

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After reaching an intraday high of $88,563, the flagship cryptocurrency ended up plunging all the way to $82,157.

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BTC/USD by TradingView

Risk assets are getting hammered by rapidly worsening trade tensions.  E-mini S&P 500 futures are down by more than 3%. European shares have also slumped to a two-month low. 

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The cryptocurrency market could become even more volatile this week. Roughly $2.5 billion in crypto options are expected to expire on Friday, according to Deribit. 

Bitcoin is currently trading at $83,621, according to CoinGecko data

CoinGlass data shows that nearly half a billion worth of crypto has been liquidated. The liquidations are almost evenly distributed between longs and shorts.   

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