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Bitcoin Tanks to 11-Day Low as Nearly $500M Liquidations Sweep the Market
In a shocking turn of events, the price of Bitcoin has dropped to an 11-day low of $115,000. This massive correction comes on the heels of nearly half a billion dollars in liquidations across the cryptocurrency market. As a result, most altcoins have followed suit, with Ethereum plummeting by 3% and Ripple losing 4% in value.
Despite a quiet weekend, Bitcoin’s price had been eerily stable until Monday morning when it suddenly dropped to an 11-day low of $115,000. The majority of altcoins are not far behind, with Ethereum sinking to $4,300 and XRP struggling to stay above the critical $3 level. Solana and Dogecoin have also taken a hit, declining by 4-5% in value.
The only exception to this trend is LINK, which has bucked the downward momentum by posting an impressive 5% gain.
Source: cryptopotato.com
