Crypto Market Sees ‘Major Turmoil’! Bitcoin Plummets to Near $60,000 Before Staging a Significant Rebound – What’s Next for the Market?
Bitcoin experienced significant volatility during a tumultuous trading session in the Asian market on Friday (February 6); prior selling had dragged the token to a level retracing more than 50% from its October peak.
Bitcoin plunged as much as 4.8% in early Asian trading on Friday, hitting a new low of $60,033, before rebounding to as high as $65,926.
Other tokens also saw sharp declines followed by rapid recoveries. Solana plummeted over 14% at one point but fully recovered its losses within hours.
Since a series of severe liquidations in October eroded market confidence, cryptocurrencies have remained volatile. This week, selling intensified amid the unwinding of leveraged bets and broader market turbulence.
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