Bitcoin is on track for its worst week since March, having fallen around 8% so far, as the cryptocurrency market continues to reel from last month’s massive leveraged liquidation.
The world’s largest digital asset slipped 0.6% on Friday, hovering just above $100,000, as investor sentiment remained fragile following steep losses across the sector.
The total market value of cryptocurrencies has now fallen 20% since peaking at a record $4.4 trillion in October, leaving it up only 2.5% year-to-date.
Last month’s abrupt downturn was sparked by a $19 billion liquidation in just 24 hours, which wiped out a wave of leveraged positions and triggered a cascade of margin calls across major exchanges.
Analysts said the pullback underscores ongoing volatility in digital assets despite growing institutional adoption, with traders increasingly wary of overextended positioning following this year’s rally.
