Bitcoin experienced a surge above $89,000 before dropping to $87,000, resulting in over $600 million in futures liquidations for both long and short positions. Altcoins like DOGE, SOL, and APT also saw substantial futures losses. Bitcoin's volatility is the highest since briefly surpassing $73,000 earlier in the year. The trading session saw Bitcoin extend its 7-day gains to over 32%, resulting in nearly $700 million in liquidations for crypto-tracked futures. Other major and midcap cryptocurrencies also saw large losses in their futures markets. Traders warn of a potential price correction in the short term.



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