The crypto market witnessed over $200 million in liquidations as Bitcoin dropped to $63,100. Data from Coinglass revealed a 128% surge in total liquidations over the past 24 hours. As Bitcoin slid 4%, altcoins followed, with Ethereum dipping below $2,600.
More than 68,900 traders saw their positions liquidated, with the largest order on OKX valued at nearly $2 million. Despite the selloff, analysts remain optimistic, pointing to Bitcoin’s historically strong performance in October and November.