Crypto
Crypto Market Slumps to $2.84 Trillion Amid Bitcoin Sell-Off
The cryptocurrency market has taken a hit, falling to $2.84 trillion as of now, down by 2.69% from its previous value.
This decline is largely attributed to Bitcoin's drop below $84,000, which triggered a broader selloff in the market.
A significant amount of $126 million worth of BTC long positions were liquidated, and high leverage continued to unwind, adding to the downward pressure.
Total crypto open interest remains elevated at $444 billion, with funding rates falling 52% in just 24 hours.
The uncertainty surrounding regulatory changes following the Senate's failure to pass the Clarity Act has also contributed to the market's volatility.