Bitcoin Hits $59,018 After a 5% Drop, Forcing $237M in Long Liquidations

Bitcoin fell 5% in 24 hours to $59,018, marking a new YTD low below $60K, ~10% down for the week and over 30% since the start of the year. The move triggered roughly $237M in long liquidations, intensifying volatility and forcing deleveraging that could extend near-term downward pressure by removing leveraged buying power.