Bitcoin Falls Below $110K: Over $1 Billion in Crypto Liquidated

Bitcoin experienced a noticeable decline on Monday, plummeting below the $110,000 mark for the first time since early July. As of today’s low of $109,450, over 3% has been wiped off its value, sparking significant liquidations in the crypto market. According to CoinGlass, approximately $880 million was liquidated within a 24-hour period, with long positions on Ethereum (ETH) and Bitcoin (BTC) contributing substantially. Friday’s gains fueled by comments from Federal Reserve Chair Jerome Powell regarding potential rate cuts were also affected, as the price witnessed a sharp correction.