#CryptoMarketDip Crypto Market Plunges, .

Key Takeaways:

* The cryptocurrency market experienced a significant price decline on January 7th, 2024.

* Bitcoin (BTC) led the decline, triggering massive liquidations.

* Long positions were heavily impacted by the price drop.

* Rising U.S. Treasury yields, fueled by inflation concerns, were the primary driver of the market crash.