Bitcoin Plummets Amid Intensifying Downside Bets

Bitcoin plunged 16% last week to $70,008, falling as low as $60,000 in its worst weekly decline in three years. Analysts and market data cited concentrated downside options and automatic loan-liquidation triggers that could accelerate selling, with the $60,000–$74,000 band framed as a key battleground. The move coincided with steep tech-stock losses and renewed concerns about interest-rate and carry-trade risks.