Bitcoin experienced a significant price drop during Asian trading hours, falling into the $91K range. This decline followed extensive crypto liquidations amounting to $687 million, indicating an intense market reaction.
The liquidations included $178.25 million from Bitcoin specifically, highlighting the market's ongoing challenges with excessive leverage and profit-taking behaviors among holders. These dynamics have put considerable pressure on Bitcoin's price.
This market development underscores the persistent volatility within the cryptocurrency market, particularly as traders navigate leverage risks and market fluctuations.
