Bitcoin crosses $70,000 mark after 13% single-day drop
Bitcoin just pulled off a major comeback—after plunging 13% in its steepest single-day drop since the FTX collapse in November 2022, it bounced back nearly 15% to cross $70,000 on Friday.
The sharp swings wiped out over $1 billion across crypto markets in liquidations.
Bitcoin's wild ride
If you're following crypto, this rollercoaster shows how fast things can change.
Thursday's sell-off was fueled by miners cashing out for AI projects and shaky tech earnings, but Friday's rebound hints at renewed confidence as investors piled in through ETFs and trading in the funds picked up.
Bitcoin's bounce back lifts other companies' shares
It wasn't just Bitcoin—companies like MicroStrategy and Coinbase saw their shares jump, with MicroStrategy up about 21% and Coinbase rising roughly 10-15%.
Even with all the chaos, investors continued to buy into ETFs.