Crypto Market Plunges, $1B Liquidated in Hour

Crypto Market Plunges: $1 Billion in Assets Liquidated in Hour, Bitcoin Drops 2% in MinutesThe cryptocurrency market experienced a significant downturn on Friday, with nearly $1 billion in assets liquidated in just one hour. Bitcoins price dropped to an intraday low of $81,868, shedding 2% of its value in under ten minutes. The total crypto market saw close to $2 billion in liquidations over the past 24 hours, with most top cryptocurrencies down by double digits. The total market capitalization fell below $3 trillion for the first time in seven months. Analysts attribute this drop to leveraged trading, with approximately $500 million in Bitcoin long positions liquidated in one hour. Ethereum and Solana also saw substantial liquidations. The Crypto Fear and Greed Index remains at Extreme Fear, reflecting the markets delicate state.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.