Crypto Markets See Steep Losses as Bitcoin Drops Below $66K, Traders Liquidated

• Bitcoin plunged below $66,000, down over 5% in 24 hours; ether fell 12% to $3,100

• Broader crypto market dropped nearly 10%, with other major cryptos like ADA, AVAX, BCH, and FIL down 15-20%

• Over $850M in crypto derivatives positions liquidated, majority were longs caught off guard by decline

• Selloff occurred amid wider risk-off sentiment as geopolitical tensions rise and stocks sink

• Some anticipate short-term crypto softness due to tax season, but constructive long-term outlook remains