Bitcoin Price Plunges: Liquidations Surge Above $530 Million Amidst Market Volatility

Bitcoin’s value has experienced a sharp drop, reaching its lowest levels since July 8th, accompanied by substantial liquidations exceeding $530 million across the cryptocurrency market. This decline began following the opening of Wall Street trading and pushed Bitcoin’s price closer to the crucial support level near $108,000. Major holders, known as whales, initiated significant sell-offs on prominent exchanges like Binance, contributing to this downward trend.