Bitcoin Plummets Below $105K, Triggering Over $1.3 Billion in Liquidations

The cryptocurrency market experienced a significant downturn with Bitcoin (BTC) falling below $105,000 after experiencing a decline of over 2.56% in the last 24 hours. This price drop resulted in over $1.36 billion in liquidations across leveraged trades alone, according to CoinMarketCap and Coinglass data. This downward trend marks the first time Bitcoin has breached below this threshold since October. 3.26% fell on total crypto market value from $3.47 trillion, while trading volume jumped nearly 63%, reaching $224.87 billion, as traders responded to the price changes. The sudden drop in prices led many to become short-term holders of Bitcoin.