💥 Crypto Liquidations Surge to $588M Amid Wild Market Swings

🔥 $XRP Leads Liquidations Amid Volatility
🔹 XRP hit a seven-year high of $2.82 before sharply correcting to $2.56, wiping out $69M in positions.
🔹 Liquidations were evenly split: $44M long and $46M short, with major losses on OKX ranging between $2.4M and $2.6M per position.

📉 Bitcoin, Ethereum, and Dogecoin Face Losses
🔹 Bitcoin dropped below $96K, triggering $81M in liquidations, while Ethereum saw $49M in losses.
🔹 Dogecoin, usually less volatile, experienced $22.5M in liquidations, surprising many traders.

🌏 External Factors Amplify Market Fluctuations
🔹 Political unrest in South Korea, with President Yoon Suk Yeol declaring martial law, intensified market uncertainty.
🔹 South Korean exchanges like Upbit saw sharper declines due to localized investor reactions.

📊 Liquidation Breakdown
🔹 Binance led with $222M liquidated, followed by OKX at $134M and Bybit at $124M.
🔹 Small-cap altcoins, including Hedera and Solana, added $108M to the total liquidation tally.

🤔 Market Concerns and Speculations
🔹 Bitcoin’s inability to breach $100K is frustrating investors. Speculation about U.S. government Bitcoin sales, potentially linked to Silk Road liquidations, adds to the unease.
🔹 Experts warn that selling government Bitcoin could be a strategic misstep, further unsettling the market.

👉 Will political instability and institutional actions keep shaking the market, or can crypto regain its bullish momentum? Share your thoughts!
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