Bitcoin experienced a significant downturn during Thursday’s Asian trading, plunging to as low as $61,442 before rebounding to $63,832. This decline marks the cryptocurrency’s lowest level in almost four months, a nearly 50% decrease from its October peak. The dramatic plunge triggered widespread sell-offs across the cryptocurrency sector. CoinGlass reported over 208,000 investors suffered total liquidations within 24 hours, accounting for losses exceeding $1.5 billion. Bitcoin alone incurred over $800 million of these liquidations, with Ethereum transactions adding another $386 million in losses.