Bitcoin's Sudden Price Crash
The cryptocurrency market experienced another night of turmoil as Bitcoin's price abruptly dropped below $60,000 on April 14th, marking a 24-hour decline of over 7%. Between 4:00 AM and 4:15 AM UTC, prices plummeted by $5,000 (~¥36,187), triggering mass liquidations for leveraged long positions.
One trader described the volatility:
"Bitcoin has been oscillating between extreme rallies and crashes. At these heights, it becomes dangerously unpredictable—market sentiment can reverse in seconds, erasing wealth faster than water evaporates."
As of press time:
- BTC Price: $62,649
- 24H Change: -9%
- Total Market Cap Loss: 5.8% ($2.4T → $2.26T)
Altcoins Follow Downtrend
- Ethereum (ETH): -8.5%
- Dogecoin (DOGE): -13.72%
👉 Why is Bitcoin so volatile? Experts explain key factors
Liquidation Wave Hits Traders
Coinglass reports staggering losses:
- Total Liquidations: $966M (~¥6.99B)
- Affected Traders: 258,000
- Long vs. Short: $787M (long) | $179M (short)
This follows April 13th's flash crash when BTC fell from $67,100 to under $65,000 within hours.
ETF Outflows Signal Caution
Bitcoin ETF inflows slowed significantly:
| ETF | Net Flow (Apr 12) |
|--------------|-------------------|
| Grayscale GBTC | -$166M |
| BlackRock IBIT | +$111M |
| Total AUM | $56.22B |
Upcoming Halving: Supply Shock Ahead
The Bitcoin halving (expected April 20) will slash mining rewards by 50%, historically impacting supply dynamics. Analysts note:
- Past halvings (2012, 2016, 2020) preceded major bull runs
Current pre-halving retracements mirror historical patterns:
- 2016: -38%
- 2020: -20%
👉 How Bitcoin halving could reshape crypto markets in 2024
Institutional Warnings
JPMorgan predicts post-halving risks:
- Mining profitability may collapse
- Potential price drop to $42,000 (-36% from current levels)
Long-Term Holders Cash Out
Q1 2024 saw Bitcoin surge 69%, driven by ETF inflows exceeding $12B. However:
- Long-term holders (155+ days) sold ~900K BTC since December 2023
- Short-term holders now control larger supply portions
FAQ: Key Questions Answered
Q: Why did Bitcoin crash suddenly?
A: Geopolitical tensions and overheated speculation triggered profit-taking, exacerbated by leveraged positions.
Q: Will the halving cause prices to rise?
A: Historically yes, but immediate post-halving volatility often occurs as markets adjust to reduced supply.
Q: Are ETFs still buying Bitcoin?
A: Yes, but net inflows slowed—BlackRock's IBIT gained $111M on April 12 while GBTC lost $166M.
Q: Should I sell before the halving?
A: Market cycles vary; consult a financial advisor. Long-term holders often benefit from holding through volatility.