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Guavy AI Editorial Team••Sentiment: -3.2•Clout: 40

Crypto Market Slumps as Bitcoin Dips Below $80,000

BNBLUNABTCUSDTLUNCETHTON

The cryptocurrency market has seen a significant downturn in recent days, with Bitcoin (BTC) trading below $80,000 for the first time in several weeks. This drop in price has led to a surge in volatility, prompting investors to take on riskier positions and resulting in forced liquidations of highly leveraged bullish positions.

According to CoinGlass data, total liquidations over the last 24 hours have reached $370 million, with $311 million of that amount being long liquidations. The largest liquidation occurred on the ETH-$USDT trading pair on Binance, totaling $11.75 million.

Terra Classic (LUNC) and Toncoin (TON) are among the top losers in the market, with both coins experiencing a decline over the last 24 hours. Terra Classic is down by over 3%, while Toncoin has dropped below $2.00 for the first time this week.