🟡On the night of March 11, Bitcoin plunged below $77,000 before recovering above $80,000. Ethereum dropped below $1,800, while total liquidations in the crypto market exceeded $950 million in a single day.
🟡Long positions took the biggest hit, with losses reaching $744 million, while shorts accounted for about $210 million. In total, 336,399 traders were liquidated, with BTC ($317 million) and ETH ($252 million) suffering the most significant losses.
🟡Market capitalization dropped from $3.15 trillion to $2.61 trillion. The Fear & Greed Index fell to 24 points, signaling panic. Arthur Hayes had previously predicted that Bitcoin would retest the $78,000 level.