Crypto Market Plunges: $400 Million in Liquidations Spark Fear Amidst Volatility

The cryptocurrency market experienced a significant downturn this week, leading to nearly $400 million in forced liquidations across major exchanges. The sell-off, attributed to cautious comments from the U.S. Federal Reserve and widespread profit-taking, has underscored the inherent volatility of the sector. Bitcoin, Ethereum, and prominent altcoins saw substantial price drops, catching leveraged traders off guard. In just 24 hours, over 162,000 positions were closed out, highlighting the high-risk nature of current market conditions.