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summaryBitcoin and other cryptocurrencies saw significant price declines today, with BTC dropping to around $65,000 while altcoins fell by 10-20%. This market downturn has resulted in over 180 million worth of leveraged derivatives positions being liquidated across all crypto assets, according to data from CoinGlass.

The total market cap for cryptocurrencies is now below $3 trillion, with bitcoin accounting for around two-thirds of this value. The price drop is affecting both long and short positions, indicating that it's not just a correction but potentially a sign of larger market trends or concerns.

This rapid decline in the crypto market has led to significant losses for many investors and traders. As such, experts are warning that now may not be the best time to enter new leveraged positions due to the uncertainty surrounding the current situation. It is recommended that those who hold cryptocurrencies should exercise caution when trading or investing at this time.

The reasons behind today's market turbulence remain unclear but could potentially include increased regulation concerns, macroeconomic factors such as inflation fears or central bank policies, or simply a shift in sentiment among investors. Regardless of the cause, it appears that we could be in for more volatility in the coming days and weeks.
titleCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
descriptionLeader in cryptocurrency, Bitcoin, Ethereum, XRP, blockchain, DeFi, digital finance and Web3 news with analysis, video and live price updates.
keywordsnews, token, protocol, yesterday, markets, policy, consensus, index, holders, ether, week, village, price, says, will, icon, paper
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