⚡In the past 24 hours, the volume of liquidations in the cryptocurrency market reached $1.4 billion, according to Coinglass. Bitcoin’s drop to $92,000 (-13.4% from its all-time high) severely impacted leveraged traders. Altcoins suffered even greater losses: Ethereum fell by 16%, XRP by 18%, and Dogecoin by 26%.
⚡The total liquidations over the past three weeks amount to nearly $10 billion. A withdrawal of $680 million from Bitcoin funds on Wall Street marked the largest outflow since the beginning of the year.
⚡Experts attribute the crash to Federal Reserve Chairman Jerome Powell’s comments about slowing the pace of rate cuts. Despite the downturn, traders remain optimistic about a market recovery in 2025.