Bitcoin Falls Below 54500 Ethereum Dips Below 2850 as 80000 People Liquidate 200 Million

Coin World News report:


Bitcoin plunges again, earlier falling below $54,500, and Ethereum also drops below $2,850. The rebound of the past two days has almost completely evaporated.
After reaching a low of $53,269 on Friday (5), Bitcoin rebounded over the weekend and briefly surpassed $58,000 yesterday (7). However, selling pressure emerged and caused a sharp decline after that. As of 5 am today (8), it has continued to plummet and has fallen below $55,300. In the past 24 hours, it has fallen by 3.16%, and the rebound of the past two days has almost completely evaporated.


The trend of Ethereum is similar to that of Bitcoin, and it has fallen below $2,890 at the time of writing, with a 4.40% drop in the past 24 hours.


Top ten tokens experience a general decline
Along with the decline of Bitcoin, other top ten tokens have also fallen. Dogecoin (DOGE) has experienced the deepest decline, with a drop of over 10%. Other tokens such as BNB, SOL, XRP, ADA, etc. have also experienced drops of over 8%.


Over $200 million liquidations in the past 24 hours across the entire network
With Bitcoin’s diving market, according to Coinglass data, the total amount of liquidations across the entire cryptocurrency network has exceeded $200 million in the past 24 hours, with over 80,000 people being liquidated.