Bitcoin and Ethereum Plunge Amidst Market Panic, Total Liquidations Hit $818 Million

The cryptocurrency market experienced a significant downturn today, October 18th, with both Bitcoin (BTC) and Ethereum (ETH) falling sharply. Bitcoin’s price dropped below the crucial $92,000 level, while Ethereum briefly dipped below $3,000 – the first time it has reached this level since April. This drop triggered massive leveraged liquidations on both assets, with a total of $535 million in forced liquidations within 24 hours, bringing the total to $818 million. These dramatic movements mark the market’s transition into extreme fear mode.