Crypto Market Crash: Bitcoin Drops Under $83K Amidst $1 Billion Liquidations
Bitcoin’s price plummeted to $82,618, triggering a $1 billion liquidation event across crypto derivatives platforms as the total crypto market cap shrank by over 12% to $2.72 trillion.
Sell pressure surged, driving global trade volume to $175.84 billion, with Bitcoin accounting for $72.86 billion. Ethereum, Solana, and XRP experienced significant losses, alongside steep drops in meme coins like SNEK and TRUMP. Long positions suffered the heaviest liquidations, with Bitcoin derivatives alone accounting for $310.55 million.
Clever Robot News Desk 5th March 2025
