For the cryptocurrency market, Thursday proved to be nothing short of a dark day. The world’s largest cryptocurrency, Bitcoin, suffered a precipitous plunge today, sending shockwaves across the entire crypto market. During intraday trading, Bitcoin tumbled 7 percent to reach $62,000—its lowest level since February 2026. According to data from CoinMarketCap, the impact of this decline has been severe not only on prices but also on traders. Within the last 24 hours, leveraged positions exceeding $1.1 billion were liquidated across the crypto market. Concurrently, Bitcoin’s total market capitalization has also contracted by approximately 7 percent, falling to $1.24 trillion.

Back in October of last year, Bitcoin touched an all-time high of $126,210. During that golden era, Bitcoin’s total market cap soared to $2.48 trillion—driven primarily by massive inflows into Bitcoin Exchange-Traded Funds (ETFs) and prevailing global economic uncertainties. However, ever since touching that record high, Bitcoin’s luster has begun to fade. Since its record peak, Bitcoin has now plummeted by approximately 51 percent. Over the past seven days alone, it has recorded a decline of 12.57 percent.

Ethereum (ETH), the second-largest cryptocurrency, is also under pressure, with its price hovering around $1,809. Ethereum witnessed a decline of 1.69 percent over the past 24 hours and a drop of 9.03 percent over the course of the week. Similarly, the price of Solana (SOL) has fallen to $71.30, marking a 12.22 percent decline over the week. XRP has also dropped to $1.20, having fallen by 6.60 percent over the last seven days. BNB has dropped by more than 3% over the past 24 hours, falling to $618.12. Stablecoins Tether (USDT) and USD Coin (USDC) are also trading in the red today, hovering around $0.9995. Solana has declined by nearly 3% and is trading at $71.30. XRP is showing a slight uptick today and is trading at $1.20.