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

LightningPacketLoss · 2026-04-07T07:38:19+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 breach of the $70,000 psychological level could trigger further sell-offs. The total market capitalization drops from $2.48 trillion to $1.27 trillion, and market sentiment shifts toward risk aversion.

LightningPacketLoss

2026-04-07 07:38:19

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Source: Securities Times Network | Author: Li Zhiqiang

Bitcoin plunges 12%, dropping to around $63k, setting a new low in 16 months.

According to Coinglass data, over the past 24 hours, more than 400k people worldwide have been liquidated, and the total liquidation size of long positions across various tokens reached $63k.

The market is going through a “confidence crisis.” The $70k level is seen as a key psychological threshold; if it breaks, it could trigger larger-scale selling. Since its peak in October last year, Bitcoin has fallen cumulatively by more than 48%, with total market value shrinking sharply from $2.48 trillion to $1.27 trillion.

Market sentiment has shifted toward risk aversion. Price action is now driven more by balance-sheet mechanics than by narrative logic.

U.S.-listed Bitcoin spot exchange-traded funds (ETFs) are seeing continued institutional outflows. After a brief net inflow on Monday, outflows exceeded $800 million over the next two trading days.

(Editor: Wen Jing)

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                                                            Bitcoin

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