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The flagship crypto touched a low of $59,658 before modestly recovering to around $60,800 as of press time, based on CryptoSlate data.
The decline mirrored a broader selloff across asset classes amid heightened global economic uncertainties and geopolitical risks.
Total liquidations stood at $199.2 million over the past 24 hours, with longs accounting for more than half at $109.4 million.
Bitcoin's euphoria zone and the 2024 halving event elevate market anticipation and investor strategies.
The broader crypto market dip also resulted in a substantial $10 billion drop in crypto investments AUM .
Bitcoin had only slightly recovered above the $65,000 mark as of press time, with downward pressure remaining in the market.