Bitcoin Takes a Plunge As Whales Trigger a 1.89% Drop in Few Minutes of Massive Selling For Liquidation ($2.27 Billion)!!

In a dramatic turn of events, Bitcoin (BTC) experienced a sharp decline within minutes, plummeting by 1.89% as whales executed massive sell orders.

The leading cryptocurrency, trading under the BTC pair, saw a notable dip on Binance, one of the largest cryptocurrency exchanges.

The current price dropped to $65,807.43, down by 1.40%. With a market cap of $1.31 trillion (~109.43 trillion USDT) and a fully diluted market cap of $1.4 trillion (~116.58 trillion USDT), Bitcoin continues to dominate the market with a 54.35% share.

Despite its significant circulating supply of 19.71 million BTC and a max supply of 21 million BTC, today's sudden plunge, driven by large-scale sell-offs from whale accounts, underscores the market's volatility.

Bitcoin has seen remarkable growth since its issue date on November 1, 2008, reaching an all-time high of $73,750.0739 on March 14, 2024, yet remains susceptible to sudden market shifts.

Today's market activity highlights the inherent risks and volatility associated with cryptocurrency trading.

With the price falling 1.89% in mere minutes, the influence of whale accounts, which hold large quantities of Bitcoin and can significantly sway market movements, is evident.

As always, investors are reminded that the data provided by CoinMarketCap is for informational purposes only and comes without any representation or warranty.

Cryptocurrency trading carries significant risk, and it is crucial to stay informed and exercise caution in such a dynamic market.

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