Bitcoin's price dropped below $84,000 following a flash crash, triggering $487.2 million in leveraged long liquidations within a 24-hour period. Total crypto market liquidations reached $555.6 million according to CoinGlass data. Amidst the volatility, Fundstrat's Tom Lee suggested the market has passed its bottom, while Bitmine announced it would cease Ether purchases once its holdings reach 5% of the total supply.
Leveraged long positions faced massive forced closures after Bitcoin lost momentum and breached the $84,000 support level during a volatile session.
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