The crypto market was shaken when Bitcoin plunged below $88,000, erasing all the gains recorded since the beginning of 2026.
At 2:15 pm this afternoon, the price of Bitcoin opened at $89,904, down about 0.06% since it opened early Wednesday in Asian trading.
In just 48 hours, more than $1.8 billion in trading positions were liquidated, the majority involving investors who expected the price to continue rising.
This fall did not happen alone. Overall, the crypto market lost about $225 billion in value, the biggest drop since mid-November.
Bitcoin is now also below a key technical support level, indicating that selling pressure is intensifying.
Analysts attribute this fall to the ‘Sell America’ sentiment, following the threat of new tariffs by US President Donald Trump.
However, the bigger factor actually comes from Japan. The Japanese bond market experienced extraordinary turbulence as government bond yields jumped sharply, sparking concerns about global financial stability.
This situation caused global capital flows to become increasingly tight. As liquidity eroded, investors began to sell off riskier assets, including Bitcoin.
Unlike gold, which surged to an all-time high, Bitcoin is still seen as sensitive to market conditions and a lack of cash flow.
Bitcoin's fall this time is not just a crypto issue, but a reflection of global market tensions.
As long as this uncertainty continues, volatility is expected to continue to haunt the digital market.
