Crypto Markets Today: Bitcoin Breaches $98K as Liquidations Top $1.1B

The recent plunge of Bitcoin below $98,000, as reported by CoinDesk, has triggered a significant liquidity crunch, leading to over $1.1 billion in liquidations. This situation mirrors a broader trend observed in the market, where over $120 million in crypto longs were liquidated in just one hour as Bitcoin dipped below $103,000, highlighting the volatility and risks associated with leveraged trading. Analysts are questioning whether bulls can expect a bounce back, as the market sentiment shifts amidst these fluctuations.