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Guavy AI Editorial Team••Sentiment: -3•Clout: 40

Crypto Market Crash: $1.09 Billion Wiped Out in 24 Hours

BTCETH

The cryptocurrency market has suffered a significant blow, with total liquidations reaching $1.09 billion in the past 24 hours.

According to Coin Gabbar, this wipeout has left 151,343 traders reeling, with long positions taking the biggest hit at $846.83 million.

The collapse of the market is attributed to a combination of factors, including bearish momentum and intense selling pressure.

Ethereum (ETH) led the liquidation heatmap, followed closely by Bitcoin (BTC), which also saw significant losses.

Analysts are warning that if Bitcoin falls below $74,000, it could drop as low as $37,000, a target supported by historical Fibonacci extension levels.