Bitcoin fell below $66,000 - lost about 9% in a week, and fell in price by a third (33%) over the course of the year. Ethereum is down more than 40% for the year. The crash triggered a new wave of mass liquidations: within 24 hours, exchanges forcibly closed traders' positions for nearly $1.5 billion, and within 15 minutes, long positions worth $180 million were liquidated.
The reasons for this are lower expectations for further easing in Fed policy and a sell-off in technology stocks. At Polymarket, the probability that Bitcoin will drop below $65,000 within two weeks is estimated at 76%.