Guavy Logo
Back
Guavy AI Editorial Team••Sentiment: -2•Clout: 40

Crypto Market Declines as Bitcoin Falls Below $80,000

BNBBTCUSDTETH

The cryptocurrency market has been experiencing a downturn in recent days, with notable declines seen in several major assets.

Bitcoin (BTC) has fallen below $80,000, marking its third consecutive day of losses this week. This decline is attributed to forced liquidations of highly leveraged bullish positions in the futures market, which has shifted sentiment towards risk-off.

CoinGlass data shows that total liquidations over the last 24 hours amount to roughly $370 million, with $311 million in long liquidations leading the way. The largest liquidation occurred on the ETH-$USDT trading pair on Binance, totaling $11.75 million.