Bitcoin has experienced a historic plunge, shattering records and leaving investors facing unprecedented losses. The crypto asset has fallen below $88,000, prompting fears of further decline towards the $74,000 level. Short-term investors are particularly hard hit by this drop, with losses exceeding historical levels never before seen in such a rapid downturn. While Bitcoin’s current price remains above $80,000, the percentage decline marks its biggest ever recorded plunge. 80 billion dollars in sales were made within a day of this sudden plunge and a staggering $250 million in liquidations occurred in just one hour. The market continues to reflect panic selling as investors grapple with a high-cost environment that fuels further losses.