Bitcoin Liquidations Surge as Price Dips Below $105,500

A significant drop in Bitcoin (BTC) price below $105,500 triggered a surge in liquidations across the crypto market, resulting in over $345 million lost within an hour. Traders like James Wynn experienced substantial losses, with his portfolio losing nearly $99.3 million after 949 BTC were liquidated due to price fluctuations. Analysts had anticipated Bitcoin’s bullish run and expected further surges before a potential dip towards lower prices. This dynamic contributed to the significant liquidations witnessed.