Bitcoin falls nearly 3% to $83,625 triggering $1.02B liquidations
Business
Bitcoin just took a sharp dip, dropping nearly 3% to around $83,625 after breaking some key support levels.
The sudden fall triggered a wave of liquidations: approximately $1.02 billion was cleared from the crypto market in just 24 hours, with around $394 million gone in one hour alone.
Over 100,000 crypto traders liquidated
Bitcoin led the losses with nearly $209 million liquidated, followed by Ethereum and Solana.
In total, more than 100,000 traders saw their positions wiped out.
Experts say the market is struggling to find its footing after heavy sell-offs and ongoing economic uncertainty.
As Nischal Shetty, Founder, WazirX, put it, the crypto market is still searching for stability.