Bitcoin Plummets Below $112K, Triggering $1.7 Billion in Liquidations

The cryptocurrency market is experiencing a severe downturn as Bitcoin's price has fallen below $112,000, resulting in $1.7 billion in liquidations. This decline has affected over 402,000 traders and wiped out nearly 4% of the market's total capitalization. The volatility raises concerns about market stability and investor confidence, prompting traders to reassess their positions and consider potential buying opportunities during this dip.