Bitcoin fell below $81,000, with an intraday low near $80,000, as the cryptocurrency market suffered over $1 billion in liquidations within 24 hours. A total of 166,769 traders were affected, with bullish positions accounting for $1 billion of the total, representing 93% of all liquidations. Ethereum experienced the largest individual losses at $324 million, surpassing Bitcoin’s $240 million, while Solana, XRP and Zcash fell 7.2%, 5.7% and 14% respectively. Short-term Bitcoin holders transferred more than 50,000 BTC to exchanges, with 59% of those transfers occurring at a loss, signaling a sharp reversal in sentiment compared to the profit-taking observed when Bitcoin crossed above $85,000.
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