On June 20, Bitcoin suddenly broke below the $103,000 support level, triggering a sharp volatility burst across the market. This unexpected move caused nearly $450 million worth of crypto positions to be liquidated — including over $220 million in long positions. 😱
According to data from CoinGlass, most of the liquidations happened in BTC, ETH, and SOL contracts, primarily on Binance, OKX, and Bybit.
📉 This drop appears to be part of a broader correction that had already started earlier in the week. BTC briefly crossed $110K but faced strong resistance and selling pressure from whales, dragging the price downward.
Market analysts warn that further panic could unfold if Bitcoin dips below the $100K mark. Meanwhile, altcoins are also under pressure, and traders are actively searching for safe entry points.
📊 The Volatility Index has surged, and funding rates have turned negative, signaling growing bearish sentiment in the market.