Crypto Market Drags Down $1.34 Billion in Liquidations: Bitcoin, Ethereum, and XRP Lead the Way

A recent Bybit hack has triggered a significant sell-off in the cryptocurrency market, causing combined crypto liquidations to reach $1.34 billion within the past 24 hours. The sell-off is affecting all major coins, with Bitcoin (BTC), Ethereum (ETH), and XRP experiencing the most severe losses. Over 363,000 traders have been impacted by these significant price drops as altcoins in the top 100 also suffered substantial decline. The liquidations are a stark reminder of market volatility in the aftermath of the Bybit hack.