Data shows the crypto derivatives market has suffered a massive amount of liquidations following the plunge that Bitcoin, Ethereum, and other assets have seen.

Bitcoin & Ethereum Are Both Down More Than 5% For The Past Week

The second half of May so far has seen a reversal of trend for the cryptocurrency sector, and the trajectory doesn’t appear to be changing as the month draws to a close. Over the last 24 hours, Bitcoin and other digital assets have seen another retrace, resetting the market by many weeks.

As the below chart shows, BTC has returned to the $73,400 level following its drop of 3.3% over the past day.

At its lowest during this plunge, Bitcoin even briefly slipped under the $73,000 mark, something that hasn’t happened…