Crypto Market Sheds $200 Billion as Bitcoin Slides Below $81,000

Key Facts

1The crypto market lost over $200 billion in market capitalization within the last 48 hours.

2Leveraged long positions worth $1.4 billion were liquidated, including $410 million in a single hour.

3Bitcoin price dropped to $80,585, marking a 3.0% decline within a 24-hour period.

The cryptocurrency market lost over $200 billion in market capitalization within the last 48 hours. Coinpedia reported that the price of Bitcoin dropped to $80,585, marking a 3.0% decline within a 24-hour period and breaking through key support levels.

Leveraged long positions worth $1.4 billion were liquidated during the sell-off, including $410 million in a single hour according to Coinpedia. The downturn saw altcoins falling more sharply than Bitcoin as traders moved to quickly reduce risk exposure amid the broader market slump.