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The crypto market took a hit on Wednesday as Bitcoin plunged more than $2,000 in under an hour, briefly falling to $61,460 before recovering above $64,000. The move pushed Bitcoin below $63,000 for the first time since 24 February and triggered over $1.1 billion in leveraged position liquidations across the broader market within 24 hours.

Ethereum fell harder on a percentage basis, dropping to around $1,732 as traders moved quickly to cut risk exposure across the board. The sell-off erased billions in market value and marked one of the most volatile trading sessions of 2026.

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