Crypto Market Plunges: $1.3 Billion Liquidations Follow Bitcoin’s Sharp Drop

The cryptocurrency market experienced a significant downturn on Tuesday, triggered by a sharp decline in the price of Bitcoin ($BTC) to below $104,130 from a recent peak of over $111,000. This sell-off led to an unprecedented $1.36 billion in leveraged positions being liquidated, with long positions accounting for the majority – approximately $1.21 billion. Bitcoin ($377 million) and Ethereum ($316.6 million) were among the most impacted assets. 💰 📉