In the past two days, the cryptocurrency market has sharply declined, with Bitcoin "jumping down" from its historic high of $108,000, falling below $100,000 on Thursday, and dropping again to below $93,000 on Friday night. Cryptocurrencies such as Ethereum, BNB, Solana, Dogecoin, and Cardano have also followed suit and declined.
The new round of sell-offs in cryptocurrencies has led to many people being liquidated. According to Coinglass data, in the past 24 hours, over 420,000 people across the cryptocurrency network were liquidated, with a total liquidation amount reaching $1.4 billion, of which more than 80% were long positions.
As of now, after the storm comes the rainbow, and the small bull run of altcoins is about to begin…