BTC's failure to reach a new all-time high has led to a significant drop in its price, causing harm to over-leveraged traders and resulting in over 90,000 of them being liquidated. The recent rally in BTC was potentially driven by high inflows into US-based spot Bitcoin ETFs. Despite coming close to a new all-time high, BTC retraced slightly before experiencing a sudden drop. Many altcoins, including ETH, SOL, DOGE, and SHIB, have also suffered losses. The overall crypto market cap has decreased by approximately $100 billion, and over $280 million in positions have been liquidated, with the largest loss occurring on Binance.



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