Influenced by the widespread sell-off in cryptocurrencies, Bitcoin plummeted to $60,000, hitting its lowest level since September 2024. Ethereum also dropped to $1,750. This crash triggered over $2.6 billion in liquidations within 24 hours, mainly from long positions, and pushed the market sentiment index to "extreme panic." Analysts attribute the decline to forced selling of over-leveraged positions, large outflows of funds from spot Bitcoin ETFs, and a shift in trader behavior from buying on dips to waiting for confirmation, which further intensified the downward momentum.