A wave of forced liquidations just tore through the crypto market, hitting every major coin at once, and Bitcoin is now clinging to a support zone that could determine whether the selling stops here or accelerates into something far worse.
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Crypto traders who borrowed funds to boost their positions faced significant losses, with nearly $1 billion in positions liquidated as Bitcoin (CRYPTO:BTC), Ethereum (CRYPTO:ETH), and XRP (CRYPTO:XRP) fell. This forced selling largely explains today’s crypto decline, dragging down all 26 of the largest cryptocurrencies we track.
