Cryptos crashed with Bitcoin dropping below $60,000 to $49,300 due to risk-off sentiment globally. Ether also fell 22% to $2,100, marking its most significant one-day decline since 2021.
Derivatives traders faced significant losses with over $1 billion in liquidations in the past day, including over $340 million in liquidations for Ether futures, reflecting the market turmoil.
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