The cryptocurrency market saw over $292 million liquidated in a single day. Bitcoin reaching $80,000 in April now sits at 17.5% YES, down from 26% yesterday.

The $80,000 target has been hit hard by the liquidation wave. Odds for Bitcoin reaching that mark have dropped from 42% a week ago to their current level. The $150,000 market is effectively dead at 0.1% YES.

The liquidation event has pushed bearish sentiment further for Bitcoin’s April price. Geopolitical tensions around the US-Iran situation and the Strait of Hormuz blockade are feeding risk-off behavior. New bets are appearing on a potential drop to $60,000.

Liquidity is concentrated in the $80,000 market, which trades $125,323 daily in real USDC. But…