BTC falls 7.1% to $59,352.01 amid broad crypto sell-off, triggering massive derivatives liquidations in the past four hours.
Bitcoin slid below the $60,000 mark, trading at $59,352.01 after hitting a low of $59,141.00, marking a 7.1% decline on the day. The drop reflects broader market weakness as traders offload risk assets amid shifting macroeconomic sentiment.
Ether followed the downward trend, down 1.79% to $1,554.97 after touching a low of $1,543.33. The sell-off triggered significant liquidations, with $462.52 million in crypto derivatives positions wiped out in the last four hours, including $393.31 million in long liquidations and $69.21 million in short liquidations.
The sharp decline underscores heightened volatility in digital asset markets, with traders reassessing positions ahead of key economic data releases.