$1.7 Billion Liquidations Follow Bitcoin’s Sharp Plunge

Bitcoin’s recent drop below $80,000 triggered a wave of liquidations, impacting the cryptocurrency market and financial institutions. Over $1.7 billion in crypto assets were liquidated within 24 hours following the price plunge, affecting major coins like Ethereum and XRP. This volatility also significantly impacted high-risk derivative markets on platforms like Binance and OKX. Institutional investors witnessed heavy withdrawals from exchange-traded funds (ETFs) as a result of this sharp downturn.