Crypto Markets Face Turbulence Amidst Major Liquidations and Risk Appetite Decline

A sharp correction gripped the cryptocurrency market this week, triggered by significant liquidations of long positions. Coinglass data revealed over $530 million in long trades were liquidated within a 24-hour period, leading to panic among traders after Bitcoin’s weekend momentum faltered on Monday night. This decline was compounded by the downturn in major altcoins, further amplifying market uncertainty. 💰