Crypto Market Sees $1.8 Billion Wiped Out in 24 Hours

A rising risk-off sentiment in global markets has triggered a major wave of liquidations in the cryptocurrency sector. According to a report by Bitget Research, approximately $1.8 billion worth of leveraged positions were wiped out in the last 24 hours. This development was sparked by investors moving away from risky assets. The report highlights rising oil prices and weakening expectations for interest rate cuts by the US Federal Reserve (Fed) as key factors increasing selling pressure in the crypto market. These macroeconomic developments have negatively impacted investor risk appetite, leading to sharp declines in crypto assets. Bitcoin fell below the $60,000 level amid this sell-off, breaking a significant psychological threshold to the downside. The broad decline across the crypto market led to the forced closure of positions held by leveraged traders. Experts note that this market downturn could continue in the short term, but may also present opportunities for long-term investors. They emphasize that investors should closely monitor macroeconomic data and central bank policies. This is not investment advice.