Crypto Market Sees $1 Billion Liquidations Amidst Bitcoin Slump

The cryptocurrency market recently experienced significant volatility, with Bitcoin and other major digital assets dropping in value. This price drop led to a massive $1.1 billion in liquidations across various exchanges. Traders who bet on higher prices found themselves facing unexpected losses as leveraged positions were liquidated. Bitcoin’s intraday low of $96,170 represents a 5% decline, while Ethereum experienced a steeper fall of 9%, reaching $3,126. These movements highlight the inherent risks associated with leveraged trading in crypto markets.