Bitcoin continued to lose value amid a broader market sell-off, led by concerns over Mt.Gox liquidations which could continue to weigh on sentiment and a correction from recent gains.
Over the past 24 hours, the crypto market experienced significant liquidations, with long liquidations being significantly greater than short liquidations, exerting downward pressure on Bitcoin prices.
The recent downturn in the tech sector has impacted cryptocurrencies, as investors reduce positions in riskier assets, leading to substantial outflows from Ethereum and BTC ETFs.
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