The digital currency market has faced a significant decrease in value, dropping the total market value to below $2.7 trillion. Bitcoin fell below $77,000 for the first time since November 2024 but is now trading around $80,000. Ethereum also plummeted below $1,800, unprecedented since late 2023, although it currently sits at around $1,880. Other top digital currencies have also experienced price declines. This downward trend led to the liquidation of over 330,000 leveraged trading positions worth $950 million. The largest liquidation occurred on the Bybit platform, totaling $5.26 million. Market fluctuations are expected to continue in the coming days due to potential peace negotiations in Ukraine, the release of US inflation data, and the Federal Reserve meeting.
