Bitcoin price is experiencing one of the most dramatic selloffs in its history Thursday, sliding sharply through key support levels and sparking massive liquidations in the derivatives market. 

According to Bitcoin Magazine Pro data, the world’s largest cryptocurrency crashed through critical floors, dipping towards the $62,000 floor, marking the largest raw dollar drawdown ever recorded for BTC.

The October 2025 all-time high above $126,000 now sits roughly $63,000 above current bitcoin price levels, as panicked selling intensified across exchanges. 

This drawdown is now 50% from all-time highs and places it alongside some of Bitcoin’s most extreme historical…

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