Bitcoin Plummets Under $109K Amid Trump-Putin Talks Resulting in $600 Million in Liquidations
A significant drop in Bitcoin's value occurs, affecting almost 200,000 traders in just 24 hours.
The crypto market is experiencing turbulence as Bitcoin has dipped below $109,000, its lowest point in several weeks depending on exchanges—some even recorded declines to $101,000 last Friday.
Market Overview
The situation has also turned dire for altcoins, with significant daily drops across various cryptocurrencies such as ZEC, ASTER, PUMP, and more. The total liquidation value has surged close to $600 million, impacting around 200,000 traders daily. The largest individual liquidation was nearly $10 million on the Hyperliquid platform.
BTCUSD Chart
BTCUSD. Source: TradingView
Interestingly, this market correction aligns with a meeting between US President Donald Trump and Russian President Vladimir Putin, the day preceding a visit from Ukrainian President Volodymyr Zelenskiy to the White House, potentially indicating broader geopolitical influences on the market.
BTC saw a corrective slide from its weekly peak of $116,000, briefly reaching $110,000 before further declines. At the time of writing, it stands near $108,600 on Bitstamp. Most altcoins are similarly struggling, with ZEC taking a hit of about 11%.
Stay tuned for more updates as the situation develops.
