The recent downturn in the cryptocurrency market has led to substantial losses, with Bitcoin falling below $59,000 and Ethereum losing almost 10% in value.
The sell-off saw Bitcoin drop from a high of $62,700 to lows of $58,240, marking its lowest price since mid-August, with Ether plunging nearly 10% as well.
Liquidations of leveraged crypto derivatives have hit $313 million in the past 24 hours, with ETH experiencing over $100 million and BTC around $95 million in liquidations.
Despite the overall market decline, the Telegram-associated TON token showed resilience, increasing nearly 5% even amidst broader market destabilization.
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