Bitcoin experienced a significant drop, falling to $66,000 amidst a spike in volatility ahead of the anticipated April halving event. This decline led to over $500 million being liquidated from the crypto market in just 24 hours, with the largest single liquidation estimated at $7.48 million. The sudden fall in Bitcoin's price was attributed to large liquidations on retail-heavy exchanges like Binance. Additionally, Ethereum also saw a decrease, with its price falling to $3,319. The market's volatility has been highlighted by KaikoData, noting Bitcoin's 30-day historical volatility rose to 60% last week, surpassing Ethereum's by nearly 10 percentage points.