CoinWorld reports:
On July 5th, according to Coinglass, a global cryptocurrency price website, Bitcoin continued its decline, breaching the $55,000 mark, with a drop of over 7% in the past 24 hours.
As of 12:30 PM on July 5th, Bitcoin was priced at $54,403.2, marking a 7.51% decrease within 24 hours. Due to significant volatility, liquidations in the Bitcoin market totaled $223 million within the same period, approximately ¥1.62 billion.
Bitcoin’s sharp decline triggered a widespread sell-off across the virtual currency market. According to Coinglass, all top 10 cryptocurrencies by market capitalization experienced steep drops, ranging mostly between 10% and 20%. Specifically, Ethereum plummeted 10.43% in 24 hours, trading below $2,900, while SOL dropped 7.37%, fluctuating near $125.