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Liquidations exceed 1 billion USD as BTC and altcoins face sharp declines

BTC dropped from over 105,000 USD to below 98,000 USD after the Fed’s remarks regarding potential rate cuts. MAJOR altcoins like Ethereum (ETH), Dogecoin (DOGE), and Cardano (ADA) saw losses exceeding 10%, reflecting a market-wide downturn.

More than 330,000 traders faced liquidation, with total liquidations exceeding 1 billion USD. The largest liquidation on Bitmex was an ETH position worth over 11 million USD, underscoring the substantial impact on over-leveraged traders.

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