On the evening of December 24, 2025, Beijing time, Bitcoin suddenly plummeted from $87,600 to $24,100 on the Binance BTC/USD1 trading pair, a drop of over 70%, and then quickly rebounded to around $87,000 within seconds.

This intense volatility was limited to USD1, a stablecoin issued by World Liberty Financial supported by the Trump family, and did not appear in other major trading pairs.

Currently, Bitcoin's price hovers around $87,000, trapped in the $85,000 to $90,000 range, with a cumulative decline of over 7% this year. Since falling from its all-time high in October, Bitcoin has dropped about 30%, marking its worst quarterly performance since the collapse of TerraUSD and Three Arrows Capital in Q2 2022.
This asset, known for high volatility and speculative sentiment, unexpectedly stagnated at the end of the year, contrasting sharply with the S&P 500 index and gold, which repeatedly hit new highs.

Lack of liquidity triggered a technical flash crash
Analysts pointed out that this "flash candle" is usually caused by insufficient liquidity or display issues.