The cryptocurrency market experienced sharp volatility this evening, with the price of Bitcoin (BTC) falling 1.47% in the last hour to $108,762. The
Chart showing the recent drop in BTC price.
In the last hour, $190 million worth of positions were liquidated. $158 million of these liquidations consisted of long positions and $31 million consisted of short positions.
In parallel with Bitcoins decline, the broader market also weakened. Ethereum (ETH) fell 2.27 percent to $3,911, BNB fell 2.97 percent to $1,136, and Solana (SOL) fell 2.55 percent to $188.
Among the top ten cryptocurrencies by market capitalization, XRP lost 1.57 percent, Dogecoin lost 2.30 percent, and Cardano lost 1.83 percent.
Experts say the Trump administrations renewed escalation of trade tensions with China is eroding investor confidence, leading to an exodus from risky assets and short-term selling pressure on volatile assets like Bitcoin.
According to liquidation data, a total of $647 million worth of positions were closed in the last 24 hours. Of this, $474 million were long positions and $172 million were short positions.
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