🚀 Bitcoin Takes a Tumble, But Don't Panic Just Yet! 🚀

In a dramatic twist, Bitcoin (BTC) nosedived below $53,000 on Aug. 5, plummeting 10% from $58,350 to $52,500 in under two hours. 😱

But hold your horses! BTC has already bounced back to $54,384, according to TradingView.

The last time we saw BTC below $53,000 was back in February, right before the approval of spot Bitcoin ETFs in the US.

In the past 24 hours, over $740 million in leveraged positions were wiped out, with $644 million in longs liquidated. ETH traders felt the burn too, losing $256 million in leveraged longs.

Got thoughts? Drop them in the comments! 💬