Bitcoin lost $75,000 on Friday, its biggest single-day dollar drop in recent months. The selloff pushed the total cryptocurrency market capitalization down 3.2%.
The $75,000 move
The decline came in a single trading session, wiping out weeks of gains for the largest digital asset. The exact opening price wasn't immediately clear, but the move represented a sharp reversal from recent highs.
Market-wide losses
The drop wasn't limited to Bitcoin. The 3.2% decline in total crypto market cap erased billions in value across the board. Smaller tokens fell in tandem, though Bitcoin's share of the overall market held relatively steady.
No clear trigger
As of Friday evening, traders hadn't pointed to a single news event or regulatory action behind the selloff. The move appeared to be driven by a sudden burst of selling pressure, though the exact cause remained unclear. Bitcoin's price volatility has been a recurring theme this year, and Friday's slide was one of the sharpest in dollar terms.
