Bitcoin is bleeding heavily – Here are the possible causes and liquidation data

Bitcoin has fallen sharply today, bringing the daily loss to over 3.5% with a decline in recent hours. At the time of writing, the price of BTC is trading at around $100,900, slightly above the psychological level of $100,000. The fall in BTC price may be due to the ongoing tensions in the trade war between China and the United States, the unexpected debate between Elon Musk and Donald Trump, and the decline of U.S. tech stocks, particularly led by Tesla.

With the fall of Bitcoin, there has been a large amount of liquidation in the cryptocurrency market. In the past 24 hours, $834 million in assets have been liquidated from the cryptocurrency market. Of this, $767 million was in long positions. When considered on the basis of assets, Bitcoin tops with 270 million dollars. Following are BTC, Ethereum with 227 million dollars, Solana with 47 million dollars, Dogecoin with 25 million dollars, and XRP with 22 million dollars. The fall of altcoins reached double digits, especially memecoins.

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