$BTC experienced a sudden sharp correction, dropping from over $100,000 to $94,177. This significant decrease caused altcoins to also plummet by 15-20%, resulting in a widespread market downturn.
In the past 24 hours, the total liquidation value across the entire market exceeded $1.7 billion. Notably, more than 90% of these liquidations came from Long orders, indicating that many traders who were betting on the continued rise of Bitcoin and other cryptocurrencies were caught off guard by the abrupt decline.
This market shakeup has left investors reeling, as they scramble to reassess their strategies in the wake of such unexpected volatility.