Bitcoin experienced significant volatility today, falling below the $70,000 mark and trading near $68,800, down more than 3% over the last 24 hours. The decline triggered nearly $300 million in liquidations, predominantly from long positions, as the Crypto Fear and Greed Index fell to 28, indicating fear among investors.

A major market event today was the expiration of approximately 68,000 Bitcoin options with a maximum strike price of $74,000 and a notional value of $13 billion. Additionally, 370,000 Ethereum options expired with a maximum strike price of $2,250 and a notional value of $2.12 billion, bringing the total value of expiring options to over $15.58 billion.

The broader cryptocurrency market also declined, with the total market capitalization falling 1.6% to $2.43 trillion. Ethereum dropped 3.9% to $2,050, while other major cryptocurrencies including BNB, XRP, Solana, and Dogecoin experienced losses between 2% and 4%.

Despite the downturn, institutional interest remains strong, with 73% of institutional investors planning to increase their crypto holdings throughout 2026. Bitcoin ETFs recorded modest inflows of $7.61 million, though this represents one of the lowest daily inflows of 2026.

Goldman Sachs suggests Bitcoin may have found a bottom near $70,000 following a 45% drop from its peak of around $126,000, citing improved liquidity and reduced selling pressure.