Crypto Market Plunges $2 Trillion: Bitcoin Sees Biggest One-Day Fall Since 2024

• Bitcoin experienced its sharpest single-day decline since late 2024, falling 12.6% to $63,300, wiping out billions.
• Forced liquidations of nearly $1 billion in Bitcoin positions accelerated the sell-off, creating a domino effect.
• Negative risk sentiment, weakness in tech stocks, and fears of a hawkish US Federal Reserve contributed to the market downturn.
• Institutional investors are pulling back, with US spot Bitcoin ETFs seeing over $3 billion in outflows in January alone.
• Analysts warn of a potential deeper, longer correction, with crypto markets possibly remaining under pressure for months.