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Just saw that Bitcoin is again fluctuating around the $80K and it doesn't look good. Massive futures positions are being liquidated, we're talking about more than $300 million in liquidations in a short period. Why is crypto dropping so hard right now?
The price action has been quite aggressive. Bitcoin tried to stay above the $80K , but it doesn't really hold. Many traders probably lost their stops or were forced to be liquidated by the volatility. That causes even more downside pressure.
The big question everyone is asking is why the market is falling further. It could be that macro factors are at play, or just profit-taking after previous rallies. Either way, when you see so many liquidations, you know there's pain in the market. It will be interesting to see if Bitcoin finds support here or continues to fall.