Bitcoin Drops to $58K as Overcrowded Shorts Signal Reversal

Bitcoin plunged 5% to $58,000 in early Thursday U.S. trading, its lowest level since 2024, before bouncing back to around $59,400, down 2.5% over 24 hours. Ether slid to roughly $1,550, a 5.5% drop, while Solana and other majors traded lower as the selloff spread across crypto. The move came as…