Core Insights - The article discusses significant events that have led to drastic price drops in Bitcoin, highlighting the impact of regulatory actions, market manipulation, and systemic failures within the cryptocurrency ecosystem. Group 1: Historical Price Crashes - In December 2013, the People's Bank of China prohibited banks from engaging with Bitcoin due to its lack of backing by any nation or central authority [1] - The Mt. Gox exchange experienced a DDoS attack in April 2013, causing Bitcoin's price to plummet from $265 to $150, a loss of approximately 43% [3] - The Mt. Gox hack in June 2011 resulted in the theft of 740,000 BTC, leading to a price drop of about 99.9%, erasing nearly the entire market's value at that time [4] - A significant market crash on October 10, 2025, wiped out $19 billion in leveraged Bitcoin positions, although it was not the largest percentage drop recorded [5] Group 2: Regulatory Impacts - In early September 2017, China banned initial coin offerings (ICOs), which led to a panic sell-off and a 25% drop in Bitcoin's price from approximately $4,400 to $3,300 [7][8] - Following a rapid rise in Bitcoin's price in late 2017, the introduction of Bitcoin futures led to a significant drop from about $16,500 to $11,000, marking a 33.3% loss [9][10] - The COVID-19 pandemic triggered a crash on March 12, 2020, with Bitcoin falling from just below $8,000 to about $4,850, losing nearly half its value [12][13] - In May 2021, a crackdown by the People's Bank of China on Bitcoin mining caused Bitcoin to drop approximately 30% from about $43,000 to $30,000 [14][15] Group 3: Market Events and Reactions - The freezing of withdrawals by crypto lender Celsius on June 12, 2022, led to a 15% drop in Bitcoin's price from around $26,000 to below $22,000 [17][18] - Reports of liquidity issues at FTX on November 8, 2022, caused Bitcoin to fall more than 17% in 24 hours, from about $20,500 to $16,900 [19]

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