Bitcoin witnessed a dramatic price swing, plummeting by $6,000 within minutes.
Despite this initial drop, Bitcoin quickly recovered to reach a value of $98,000, demonstrating the cryptocurrency's inherent volatility.
This sudden movement in Bitcoin's price triggered liquidation events exceeding $1 billion, with approximately 80% of these losses impacting long positions in the market. The magnitude of these liquidations underscores the risks faced by traders in the volatile crypto markets.
