Bitcoin prices experienced a dramatic plunge on Tuesday, August 27, as the leading cryptocurrency tumbled by $4,000 in just a few hours. This abrupt downturn saw Bitcoin fall from just over $62,000 to a low of $58,000 confusion among market experts and leaving many traders scrambling.
The Market’s Reaction
According to data from Coinglass, a staggering 87,920 traders were liquidated, with the total losses amounting to $320 million over the past 24 hours.·
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