Bitcoin briefly plunged to a new year-to-date low of $58,035 on Thursday morning before staging a relief rally to trade flat around $59,500. Despite recovering its 24-hour losses, the intra-day chart reveals severe volatility and erratic price swings.
Key Takeaways:
Bitcoin erased its plunge to a 2026 low of $58,035 on Thursday morning, staging a rapid relief rally.Forced liquidations across the crypto market topped $1 billion, wiping out $484 million in bitcoin bets.Boris Alergant of Babylon Labs warns that AI competition may pressure bitcoin prices through the summer.
