The cryptocurrency market has experienced a major drop, causing concern among investors. Bitcoin's price fell below $60,000 in the past 24 hours, which came as a surprise to many.
As a result of this sudden decrease, there have been substantial liquidations in the crypto derivatives market. Approximately $293 million in long positions were wiped out due to the price crash.
This event highlights the volatility and risks associated with the cryptocurrency market, shaking the confidence of Bitcoin investors.
