Bitcoin Price Crash: BTC Nosedives 7% In One Day, Why Is Cryptocurrency Falling?

Bitcoin Price Crash: Bitcoin prices nosedived by over 7 per cent on Thursday as the sell-off among investors continues amid geopolitical tensions and weakening institutional demand. According to CoinMarketCap, the BTC price dropped to around $62,000, the lowest level since February 2026.

Over $1.1 billion worth of levered crypto positions have been liquidated over the past 24 hours.

The market cap of BTC dropped almost 7 per cent to $1.24 trillion, according to CoinMarketCap.

Bitcoin Falls Over 50% From Record High

The popular cryptocurrency Bitcoin surged to hit the record high at $126,210 last year in October. The market cap of Bitcoin rose to $2.48 trillion during the rally.

Increased inflows into Bitcoin exchange-traded funds (ETFs), and macroeconomic uncertainties were the key drivers

behind the massive rally in the cryptocurrency.

Historically, October is being considered as the best month for Bitcoin in terms of price appreciation. The “Uptober Effect” in Bitcoin refers to a historical pattern where the cryptocurrency tends to see significant price gains during the month of October.

Since the record high, Bitcoin has declined by nearly 51% from its record high of $126,210, wiping out about $64,210 per token in value.