The cryptocurrency market experienced a significant downturn on Friday morning, with major digital assets like Bitcoin (BTC) falling below $105,000 and the global crypto market cap shrinking by 3%, wiping out an estimated $150 billion in value. Analysts are now trying to determine what caused this sudden instability. A large-scale liquidation event, where more than $750 million worth of positions were closed within a 24-hour period, seems to have played a key role. Bitcoin alone experienced a 2.68% drop, while Ethereum saw a notable decline of 4.01%. Major cryptocurrencies like Bitcoin, Ethereum, Solana (SOL), XRP, Dogecoin (DOGE), and Sui (SUI) were also impacted, with some experiencing drops of over 9% in hours.