BTC has since recovered slightly to around $67,000, but the market is now testing a critical support zone. A decisive break below current levels could open the door to a deeper correction, with even the $60,000 area no longer looking guaranteed as a floor.

The sharp move triggered a wave of liquidations across leveraged positions. Over the past 24 hours, more than $1.8 billion has been wiped out from the crypto market, including roughly $1.58 billion in long positions alone.

For now, traders are closely watching whether Bitcoin can defend this support level—or if another leg down is still ahead.

$BTC