Bitcoin experienced a steep price drop to an intra-day low of $94,150 on December 9, 2024. This significant decline led to one of the largest liquidation events in the cryptocurrency market since 2021, resulting in over $1.7 billion lost across the market. More than half a million traders found themselves with empty positions as a consequence of this sharp price movement. As traders recalibrate, the spotlight now turns to market recovery and potential buying opportunities. Understanding the factors that led to this volatility is essential for any investor looking to navigate future risks and rewards in the crypto space.