Bitcoin Plunges Below $106K: Liquidation Cascade Exceeds $1.2 Billion

Bitcoin saw a significant price drop below the psychologically important $106,000 level on Friday, triggering a cascade of forced liquidations that wiped out nearly $1.2 billion in leveraged positions across cryptocurrency markets. The sell-off began late Thursday after Bitcoin breached $107,000 and exposed the fragility of an overleveraged market fueled by bullish sentiment that proved premature.