Bitcoin Slips Below $59K as Crypto Market Faces $132M in Liquidations.

On Sunday, Bitcoin fell below $59,000, touching an intraday low of $58,315 after reaching $61,868 earlier. This drop contributed to a broader 3.18% decline in the overall crypto market, reducing its total value to $2.06 trillion. Bitcoin's own value dropped 3.8% in 24 hours, marking a 13.9% loss over the past two weeks.

Ethereum also faced a downturn, falling from $2,720 to a low of $2,540, and was trading at $2,568 later in the day. Among major cryptocurrencies, toncoin, XRP, and Solana experienced significant losses, with toncoin dropping 7.5%, XRP 6.5%, and Solana 5.73%.

The market saw $132.49 million in liquidations, heavily affecting long positions. Bitcoin long positions alone accounted for $25.95 million in liquidations, while Ethereum and Solana long positions saw losses of $22.84 million and $8.37 million, respectively. The largest single liquidation occurred on Okx, where an ETH trade resulted in a $2.17 million loss.

Overall, the crypto market experienced notable volatility and significant financial losses for many traders on Sunday.