Bitcoin’s price experienced a notable decline on Tuesday, dropping to a low of $61,455 per coin. This slump occurred after the cryptocurrency had reached a high of $65,103 just three days earlier.
The downturn in the crypto market resulted in significant liquidations, impacting both Bitcoin and Ethereum. Specifically, $20.28 million in Bitcoin long positions were liquidated, along with $40.29 million in Ethereum long positions.
The market shake-up caused Bitcoin and Ethereum prices to fall by 2-3% on Tuesday, highlighting the volatility commonly associated with cryptocurrencies.
