Bitcoin hits a 16-month low, with over 400,000 traders liquidated.

LightningPacketLoss · 2026-03-05T15:42:59+00:00

Bitcoin plunges 12%, hitting a 16-month low at $63,000. Over 400,000 traders are liquidated worldwide, with long positions totaling $1.703 billion in liquidations. Market confidence crisis worsens, and the psychological barrier of $70,000 may be breached, potentially triggering further sell-offs. The total market capitalization drops from $2.48 trillion to $1.27 trillion, and market sentiment shifts toward risk aversion.

LightningPacketLoss

2026-03-05 15:42:59

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Source: Securities Times Network Author: Li Zhiqiang

Bitcoin plummeted 12%, falling to around $63,000, hitting a 16-month low.

According to Coinglass data, over 400,000 traders were liquidated in the past 24 hours worldwide, with the liquidation of long positions across various tokens totaling $1.703 billion.

The market is experiencing a “confidence crisis,” with $70,000 seen as an important psychological threshold. Its breach could trigger a larger-scale sell-off. Since its peak in October last year, Bitcoin has fallen more than 48%, with its total market value shrinking sharply from $2.48 trillion to $1.27 trillion.

Market sentiment has shifted toward risk aversion, and price movements are now more driven by balance sheet mechanisms rather than narrative logic.

Bitcoin ETFs listed in the U.S. have experienced continuous outflows of institutional funds. After a brief net inflow on Monday, the following two trading days saw outflows exceeding $800 million.

(Edited by: Wen Jing)

Keywords: Bitcoin

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