Bitcoin spirals toward $65,000, heading to worst one-day drawdown since FTX blowup

Analyst points to the 200-day moving average — currently around $58,000 to $60,000 — as a potential support level to watch. What to know : Bitcoin tumbled more than 10% over the past 24 hours, dropping below $66,000 and heading for its steepest one-day decline since the FTX-driven crash in November 2022. The sell-off extended beyond crypto, with silver plunging 15% and gold sliding more than 2%, while software stocks and major U.S. equity indexes also fell. One analyst warned there is still no clear bottom for bitcoin, highlighting the $58,000 to $60,000 range as key support, as altcoins such as XRP suffer even sharper losses.