Hold onto your hats, folks—Bitcoin just took a wild ride! The crypto rollercoaster is in full swing as the market finds itself in a bit of a pickle. The once rock-solid bullish vibe is being seriously challenged, with the entire cryptocurrency world taking a nosedive. Imagine this: the total market cap dipped below the $2.7 trillion mark, and our beloved Bitcoin, along with Ethereum and other big hitters, hit some of the lowest points we've seen in months.
Just a few hours back, BTC tumbled below $77,000—a level not seen since November 2024. But don't fret, crypto fans! The bulls have come to the rescue, and Bitcoin is catching its breath around the $80,000 mark, according to the latest numbers.
Ethereum also took a bit of a tumble, slipping under $1,800—something we haven't seen since the end of 2023. And it's not just BTC and ETH feeling the heat; Ripple, Cardano, Solana, and a whole bunch of top cryptos are painting the town red.
As expected, this downturn didn't do any favors for traders making bold, high-leverage bets. In the last 24 hours alone, over 330,000 of these gutsy moves got liquidated, adding up to a whopping $950 million. Bitcoin trades alone made up $318 million of that pie, Ethereum chipped in $250 million, and Solana accounted for about $50 million.
The biggest blow came on Bybit, where a single BTC/USDT trade cost someone a jaw-dropping $5.26 million. Ouch!
Looking ahead, it seems like we’re in for a bumpy ride in the crypto world. With potential peace talks in Ukraine, the release of US CPI data, and the Federal Reserve's FOMC meeting on the horizon, volatility is the name of the game. So, buckle up and stay tuned for more crypto drama!
