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Bitcoin, the original digital asset, has fallen to its lowest level in a week. Bitcoin fell as much as 7.5% to $65,214, a decline triggered by a resurgence of risk aversion in global financial markets and led to the liquidation of bullish bets on the cryptocurrency. This was Bitcoin's lowest price since April 5.

Smaller tokens such as Solana and Dogecoin experienced steeper declines of around 12% and 13% respectively. The global financial world went into turmoil on Friday due to the sudden increase in geopolitical risks. This caused a decline in stocks and a shift towards safer havens such as bonds and the dollar. At the same time, oil prices also rose.

Traders hoping to profit from the recent rally lost nearly $417 million in long liquidations of derivative positions in the last hour, according to data from Coinglass. Liquidations in the last four and 12 hours were $663.9 million and $751 million, respectively. Total liquidations reached $847.6 million.

This sudden decline followed a period in which Bitcoin prices increased, partly due to the impact of the Bitcoin halving. This code update was seen as a positive market catalyst as it reduced the supply of the digital asset. Despite the recent decline, Bitcoin is still up around 60% this year.

#BitcoinDunyamiz

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