Bitcoin (BTC) tumbled below $20,000 for the first time since the beginning of the year and liquidated $123.25 million long positions held on the assets in the last 24 hours, according to Coinglass data.

Across the broader crypto market, the total liquidations were $323.86 million over the last 24 hours, according to Coinglass data. The sell-off wiped off all traders who took long positions on the market.

(By Oluwapelumi Adejumo)