Crypto Market Plunges: $645 Million in Liquidations Triggered by Bitcoin’s Drop

The cryptocurrency market experienced a sharp decline over the past 24 hours, resulting in $645 million in liquidations. This volatility was primarily driven by a significant drop in Bitcoin prices, which fell below $88,000 mark. Long positions, those betting on continued price increases, suffered the brunt of the losses with $459 million wiped out. Short sellers also felt the impact, losing $185 million as prices swung wildly.