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Bitcoin’s sharp descent sparks 132 million USD in liquidations amid market volatility

Bitcoin’s price fell dramatically, hitting a low of 101,957 USD from 105,424 USD. This significant drop resulted in over 132 million USD worth of long positions being liquidated in derivative markets within just four hours.

Across crypto markets, total liquidations reached 371.94 million USD. Despite the sell-off pressures, Bitcoin’s open interest in futures remains strong, exceeding 64 billion USD, indicating that traders are still actively engaged in the market.

Tether dominated trading at 67 billion USD in a total trading volume of 83.94 billion USD. Currently, Bitcoin’s market capitalization stands at 2.04 trillion USD, reflecting a 1.7% decline against the USD as the market shows mixed sentiment.

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