Bitcoin experienced a significant downturn over the past 24 hours, plummeting to its lowest level since January 13th, dropping below $90,000 after losing over $9,000 from last week’s peak. This decline triggered a massive liquidation of leveraged positions exceeding $1 billion. Bitcoin’s price stabilized around $96,000 on the weekend before experiencing further declines to $94,000 and finally below $90,000 by Tuesday morning. 24-hour liquidations reached over $1.3 billion, with long positions bearing a substantial portion of this loss, specifically totaling $1.25 billion. The crypto market was impacted, with major altcoins such as Ethereum (ETH), Dogecoin (DOGE), and Solana (SOL) experiencing double-digit drops. Adding to the volatility, a major hack on Bybit exchange resulted in over $1.4 billion being stolen, further affecting investor confidence and contributing to the downturn.