Bitcoin (BTC) dropped below $30,000 and $29,000 in the past 24 hours, leading to the liquidation of $66.14 million long positions on the asset, according to Coinglass data. The broader crypto market saw total liquidations of $300.10 million, with most of them occurring on OKX, Binance, and ByBit. Ethereum (ETH) and Litecoin (LTC) also saw significant liquidations. Crypto analyst Maartun pointed out several headwinds that could pull the industry into a bear market, including a bunch of 7-10-year coins moving on-chain, which historically is not a good sign for the market. According to CryptoSlate data, Bitcoin fell to $28,953 at the time of writing.
(By Oluwapelumi Adejumo)
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