Bitcoin Plunges to $88,000: Crypto Liquidations Wipe Out $645 Million

A recent steep drop in Bitcoin’s value has triggered a wave of crypto liquidations, wiping out over $645 million from the market. This rapid decline occurred as traders reacted to Bitcoin falling below the crucial $88,000 threshold. The sell-off was quick and significant enough that many investors didn’t have time to react before their positions were liquidated, leading to a cascade of forced closures in the crypto market.