Bitcoin's Price Plunge and Market Impact
The cryptocurrency market recently experienced significant turbulence as Bitcoin's price plummeted below $59,000. This downturn resulted in massive liquidations of long positions, amounting to $132 million. These liquidations predominantly impacted traders who were betting on Bitcoin's price rising. On Sunday, Bitcoin hit an intraday low of $58,315 after recording a high of $61,868 earlier the same day.
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