Bitcoin‘s (BTC) price dropped sharply below $68,000 within minutes, resulting in the liquidation of over 75,000 trader positions.
The price drop came after BTC had briefly breached the $70,000 psychological resistance level, but was quickly pushed back down by the bears.
The plunge in BTC’s price led to an $80 billion loss in the total crypto market capitalization.
Other major cryptocurrencies like Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and Binance Coin (BNB) also saw substantial declines, with BNB dropping over 7%.
The total value of liquidated positions in the past 12 hours reached $120 million, and $170 million over the past 24 hours.
The single largest liquidated position was an Ethereum trade worth over $6.5 million on the Binance exchange.
The news highlights the volatility in the crypto markets, with significant price swings causing mass liquidations of trader positions.
Source: Cryptopotato
