Bitcoin, the leading crypto asset, has experienced a notable decline, dipping to $115,356. This event triggered widespread liquidations in the market.
Bitcoin's Drop to $115K
According to market data, Bitcoin ($BTC) continues to decline after reaching an all-time high of $123,100, recently touching $115,356. This decline has occurred amidst widespread liquidations of long positions.
Market Impact and Liquidations
Over the past 24 hours, liquidations affected 213,729 traders, with total liquidations summing to $731.93 million. Of this amount, over $140.06 million was attributed to Bitcoin. Ethereum ($ETH) also fell by 1.33% to $3,598, recording $104.76 million in liquidations.
Market Sentiment Remains Bullish
Despite the sudden downturn, the overall sentiment in the crypto market appears bullish, as the Fear & Greed Index has reached 70 points. Following the recent drop, Bitcoin slightly rebounded and is trading at $117,200, marking a 1.2% dip over the past 24 hours.
In conclusion, although Bitcoin experienced a significant drop and mass liquidation of positions, the overall sentiment in the market continues to remain optimistic.
