Crypto Market Rocked by $1 Billion in Liquidations as Bitcoin Plummets

Recent data reveals a significant downturn in the cryptocurrency market, with over $1 billion in liquidations within the last 24 hours. These large liquidations are largely driven by Ethereum (ETH) long positions, with a substantial $766 million liquidation in just the past 12 hours. Bitcoin’s (BTC) price has also seen a dramatic decline, dropping from around $124,000 to roughly $117,000. This recent plunge has sparked interest and speculation about potential triggers for this bearish trend.