A key support level that had held for several months in the cryptocurrency market has been breached. On Wednesday, the price of Bitcoin fell below the $60,000 mark. This decline triggered massive liquidations: according to CoinGlass, nearly $800 million in long positions were closed in the last 24 hours.
Reassessment of Risks and Shifting Priorities
Bloomberg analysts highlight two fundamental factors that triggered the current correction. The first is related to the reassessment of the financial model's sustainability of Strategy (formerly MicroStrategy) under Michael Saylor. Previously considered the main growth driver, the market is now beginning to doubt the reliability of this model.
The second factor is a shift in capital flow. Retail traders are massively moving funds from cryptocurrencies into stocks of companies related to artificial intelligence. Shilyan Tan, Managing Partner at Monarq Asset Management, summarized the situation as follows: "The market is overestimating the entire MSTR and STRC flywheel".
The Danger of "Options Friday"
The decline is occurring against the backdrop of a critically important event — the quarterly expiration of Bitcoin options on Friday. The volume of contracts amounts to approximately $10 billion. Experts from Deribit warn that this could trigger even sharper volatility spikes, both upwards and downwards.
Echoes of the 2026 Crisis
The current situation resembles the events of February 2026, when Bitcoin also reached the $60,000 mark. At that time, it was a 16-month low. Analysts attributed that crash to an outflow of funds from institutional ETFs and expectations of a tightening of the Federal Reserve's monetary policy.
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