Bitcoin Drops Below $70K Support Level, XRP Experiences Major Losses

Bitcoin has fallen beneath the crucial $70,000 mark, triggering widespread liquidation in the crypto market, particularly affecting XRP traders.

In a significant market downturn, Bitcoin has slipped under the pivotal $70,000 level, resulting in a substantial selloff across various digital currencies. This decline has led to the liquidation of trading positions exceeding $1 billion, as reported by data from CryptoSlate.

The leading cryptocurrency reached lows reminiscent of the November 2024 election period, which has had a ripple effect on the broader market, pushing several altcoins into negative territory. Ethereum, for instance, experienced a decline of 7%, trading around $2,065.