Bitcoin Slides From $77,000 to $60,000 as $2.6 Billion in Crypto Positions Are Wiped Out

In the latest sharp downturn, bitcoin dropped from $77,000 to about $60,000 within 24 hours, while altcoins like XRP saw losses of up to 20% and roughly $2.6 billion in positions were liquidated. Analysts from the Kobeissi Letter link the current weakness to a structural shift that began with the October 10 crash and say a lasting bottom may not form until structural liquidity and sentiment recover.