Bitcoin Falls Below $66,000 as Market Liquidations Reach $329 Million

Bitcoin dropped below $66,000 on March 9, declining about 1.35% over 24 hours, ChainThink reports citing market data. Network-wide liquidations totaled $329 million during the period, with $228 million in long positions and $101 million in short positions. Michael O'Rourke, Chief Market Strategist at JonesTrading, said the stock market's worst reaction is still ahead and expects risk-off sentiment to continue spreading until meaningful positive news emerges, noting hedge funds have cut net risk exposure to the lowest level since 2022.