Bitcoin Plunges, Crypto Market Dips into Red
On Saturday, May 23, 2026, BTC plummeted by 2.7% to reach 75,483 dollars, marking its lowest level of the week. ETH followed suit, dropping to 2,064 dollars, a 3.2% loss for the day. The week’s performance worsened, with BTC now down 4.5%, erasing recent gains. Volumes surged, indicating panic selling. This sudden downturn is attributed to cascading liquidations in the derivatives market, where long positions were forced to unwind. No major macroeconomic event explains this movement, but the market’s fragility after weeks of decline amplified the reaction. Altcoins suffered even more severe losses, with some dropping over 5%, while the total crypto market capitalization shed 50 billion dollars in a single day. BTC is now testing the 75,000 dollar support level, a significant psychological threshold. Should this level break, the next support zone lies around 72,000 dollars. Long-term investors might view this as an opportunity, but volatility remains high. The end of the weekend promises to be tense, with risks of further tremors.
