Update
Crypto Market Liquidations Cause $1B Loss
The crypto market experienced a significant liquidation event, with over $1 billion wiped out in leveraged positions. Bitcoin and Ethereum fell to their lowest intraday levels since August, with Bitcoin hitting $74,780.91 and Ethereum at $2,247. XRP and Solana also broke below key support levels. The liquidations affected nearly 211,000 traders, with major exchanges like Binance bearing the brunt. The event was triggered by a sharp selloff in US tech and AI stocks, highlighting the market's vulnerability to external financial events and the risks of high leverage.