A Sharp Decline and Massive Liquidations
In the past 24 hours, Bitcoin (BTC) experienced a sharp 5% drop, resulting in significant liquidations on major cryptocurrency exchanges. On Bybit, a leading trading platform, approximately 10,000 BTC in open interest was liquidated as the price tumbled. This abrupt decline led to the closure of long positions valued at $192.9 million, underscoring the severity of the market correction.·
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