What caused the $2.1 billion liquidation wave in the crypto market?

A sharp downturn swept through the global cryptocurrency market in the last 24 hours, triggering $2.1 billion in ￰0￱ in crypto prices wiped almost $70 billion from the sector’s total market ￰1￱ particular, nearly 486,069 traders were liquidated during this downturn, according to CoinGlass ￰2￱ ( ETH ) and Bitcoin ( BTC ) led the losses, accounting for $679.9 million and $644 million in liquidations, ￰3￱ positions dominated the wipeout, representing nearly 79% of total liquidations ($1.67 billion). Crypto Liquidation Heatmap (24H).) Whether Bitcoin can hold above critical technical levels such as $100,000 and $90,000 may decide if this sell-off becomes a short-term shakeout or a prolonged bear phase.