Why Bitcoin, Ethereum and XRP Prices Crashed Today

The crypto market took a sharp hit overnight, with Bitcoin falling below $65,000 and triggering a wave of forced liquidations across derivatives markets.

While history does not repeat exactly, sharp fear spikes often mark periods of peak panic.

At the same time, roughly 46% of Bitcoin’s supply is currently underwater, meaning nearly half of holders are sitting on unrealized losses. Weekly realized losses across crypto have reached approximately $1.93 billion, the largest spike since 2022.

Levels to Watch

The immediate focus is Bitcoin’s ability to defend the $64K–$65K support zone. A sustained hold above this area could allow for a relief bounce toward $67K. However, a breakdown below support could open the door to a test of $60K–$62K.

Some analysts warn that if macro conditions worsen, a deeper capitulation toward $35K–$45K cannot be ruled out. 

For now, the market remains defensive. The next direction will likely depend on macro developments, regulatory clarity, and whether buyers step in to absorb continued selling pressure.

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