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Guavy AI Editorial Team••Sentiment: -3•Clout: 72

Cryptocurrency Market Suffers Over $1 Billion in Liquidations Amid Price Drop

BTCETH

The recent price drop in major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) has led to a surge in liquidations across the derivatives market.

According to data from CoinGlass, the total value of liquidated contracts over the past 24 hours stands at $928.8 million, with most of these coming from bullish bets on the two assets.

The intense selling pressure has pushed Bitcoin's price down to around $73,400, while Ethereum's price has dropped below $2,000, its lowest level since late March.