Bitcoin Price Dumps Below $69K as Liquidations Top $1.4B: XRP and ETH Bleed Heavy

Whether it’s the broader market’s turbulence spreading into crypto or intensifying pressure on the macro front, the reality is that bitcoin has been in a freefall state for a while now, which culminated minutes ago with a massive drop below $69,000 for the first time in almost two months. With the altcoins copying BTC’s major leg down, the total value of liquidated positions has skyrocketed to $1.4 billion on a 24-hour scale. Longs continue to dominate. BTC Tanks Hard Again It was just last Wednesday when the primary cryptocurrency tapped $81,000 after the Democratic sweep in the midterms. Since then, though, the bears have been in complete control. At first, they pushed the asset down to under $76,000 just 24 hours after that spectacular rise above $80,000.

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