Bitcoin plunges to $50,000 amid global economic concerns, wiping out over $1 billion in leveraged positions and sparking debate on crypto's resilience in uncertain markets.
Bitcoin experienced a plunge on August 5, 2024, dropping from $58,350 to a low of $50,000 in a matter of hours.
The leading cryptocurrency has since slightly recovered and is trading at $51,000 at the time of writing, according to the latest market data.
