$600M Liquidated as Bitcoin Falls, Altcoins Decline 6%
Bitcoin dropped to $115,200, erasing some of its recent gains but still maintaining a relatively stable posture compared to other majors. Its dominance rose slightly as altcoins bore the brunt of the correction.
Traders witnessed a tumultuous market as $600 million in bullish bets were liquidated following Bitcoin's drop to $115,000. Altcoins like DOGE, SOL, and XRP also experienced a 6% decline amidst the correction.
The sudden shift in the market sent shockwaves through the crypto community, causing heightened volatility and uncertainty among investors.
Analysts are closely monitoring the situation to assess whether this correction is a temporary setback or a sign of a more significant market correction.
Bitcoin's resilience at the $115,000 level has provided some stability in an otherwise turbulent market, raising questions about the future direction of prices.
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