Bitcoin Slumps Below $65,000 as $360 Million in Long Positions Liquidated

Bitcoin (BTC) experienced a sharp decline, falling below the critical $65,000 threshold following a series of macroeconomic shocks. The rapid price drop triggered a massive wave of liquidations for traders holding leveraged long positions across the cryptocurrency market. Data from Coinglass reveals that approximately $360 million in long positions were wiped out within a single hour of trading. This sudden volatility highlights the market's current sensitivity to broader economic shifts and external financial pressures. The downward momentum also impacted major altcoins and crypto-related equities, including Coinbase (COIN) and Marathon Digital (MARA). Market participants are now closely monitoring support levels to gauge the potential for further downside risk in the near term.