The inability of BTC to break its all-time high has resulted in massive rejection causing it to plummet below $69,000 earlier today. Altcoins have followed suit, withdrawing more than 90,000 over-leveraged traders in the past day. At its highest point this week, driven by net inflows into 11 US-based spot Bitcoin ETFs, the primary cryptocurrency surged to $73,600, $150 less than its all-time high. However, BTC retraced to $72,000 on Wednesday and Thursday before experiencing a sharp decline hours ago. The cumulative market cap of all crypto assets is now down by approximately $100 billion and stands at $2.45 trillion. This volatility has caused losses exceeding $280 million from over 90,000 liquidated positions, with the largest occurring on Binance totalling over $11 million.
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