Crypto Chaos: Bitcoin Plummets Below $93K, $1.23B in Liquidations Follow
Bitcoin plunged to $92,111 on Sunday, marking an 8.5% drop in just 24 hours and triggering $1.23 billion in liquidations across the crypto markets.
The decline, following a peak of $101,361, fueled forced liquidations, including $222 million in bitcoin longs and $221 million in Ethereum longs. As key support levels were breached, market activity slowed, leading to uncertainty and further selling. Ethereum fell 11.3%, reflecting broader market concerns.
Traders remain cautious, as the pullback may deepen, especially with thin weekend liquidity exacerbating volatility. At press time, Bitcoin is trading at $92,535.
Clever Robot News Desk 3rd February 2025
