Crypto Market Sees $692M Wipeout as BTC Drops Below $105K:

The crypto market faced a major shake-up as $692.73 million in liquidations erased positions across major tokens. Bitcoin alone accounted for $205 million in long liquidations after plunging to $104,802. This sharp decline came within a 24-hour span, triggering chaos across perpetual futures markets. 

Besides the massive Bitcoin drop, Ethereum also saw significant activity, with $151.61 million in volume. Solana followed with $32.56 million, while XRP and Dogecoin posted $29.25 million and $21.42 million respectively.