Bitcoin Price Falls to 6-Week Low, $1B in Crypto Liquidations

Nearly $1 billion was liquidated from cryptocurrency markets in the last 24 hours after Bitcoin's (BTC) price fell to a six-week low. The price of BTC dropped more than 3% to around $73,200 on Thursday morning, making it one of the top trending tickers on Stocktwits.

Retail traders blamed President Donald Trump's latest pro-crypto comments for the selloff, dubbing the decline the 'Trump Dump.' Trump reiterated his support for the industry in a post on Truth Social, criticizing former SEC Chair Gary Gensler and what he described as the 'Anti-Crypto Army.'

According to MN Fund founder Michael van de Poppe, it's just an end-of-the-month correction, and a 'cooldown' is underway in Bitcoin. 'Bitcoin showing weakness isn't a recipe for a new low, as of yet,' he wrote on X.