A massive liquidation of over USD 1 billion in leveraged trader positions marked the day of June 5, following a sharp drop in the price of bitcoin (BTC).
Bitcoin, which had maintained some stability between USD 105,000 and USD 106,000, fell to nearly USD 101,000 in a matter of hours. Such a bearish movement dragged down the rest of the cryptocurrencies in the market, resulting in a genuine bloodbath in the digital asset sector