The cryptocurrency market experienced a notable sell-off, significantly impacting over 100,000 traders through mass liquidations.
Bitcoin's price saw a sharp decline, reaching an intraday low of $59,860 before rebounding slightly above the $60,000 threshold, a critical psychological barrier.
This market volatility has prompted many traders to transition their assets into stablecoins, seeking a safer haven amidst the downturn.
Despite the temporary recovery, Bitcoin continues to struggle in maintaining its position above $60,000, highlighting persistent challenges in the market.
