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Crypto Market Crashes $140B as BTC Falls Below $76K
The crypto market suffered a significant crash, losing $140 billion in just four hours as Bitcoin (BTC) dropped below $76,000. This sharp decline triggered over $1 billion in liquidations, particularly in U.S. tech stocks. The crash coincides with a drop in the Nasdaq Composite index and concerns over regulatory implications of the U.S. midterm elections. CoinGlass reported that $1.05 billion in leveraged crypto positions were liquidated in the last 24 hours, affecting 203,418 traders. The majority of liquidations involved long positions, with about $926.81 million wiped out, while shorts saw roughly $126.60 million liquidated. The largest single liquidation was on Binance, involving a long ETH/USDT position worth $10.94 million.