The cryptocurrency market is experiencing a significant sell-off, resulting in over $1 billion in liquidations of long and short positions on major exchanges. Bitcoin, Ethereum, and Solana are among the most heavily impacted, with hundreds of millions of dollars in liquidations. Traders are shocked by the high level of market volatility and panic-selling that has ensued. The selling pressure on altcoins has increased as they follow Bitcoin's decline. Traders using excessive leverage have accelerated the decline as they were forced to liquidate their positions. Macro-economic uncertainty, regulatory concerns, and excessive leverage are contributing to the market turbulence. A relief rally may occur if Bitcoin stabilizes and important resistance levels are regained, but a deeper correction could occur if market confidence does not rebound. Caution is advised, and traders should monitor liquidation patterns and support levels for future predictions.



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