Bitcoin's $1.5B Crypto Bloodbath: $86K Dip Triggers Massive Liquidations

Bitcoin's recent dip below $86,000 has triggered a wave of liquidations across the cryptocurrency market, with nearly $1.5 billion in value wiped out in the past 24 hours. The leading cryptocurrency's price performance saw a daily low of $86,000.23 and a high of $89,557.54, maintaining an all-time high of $109,114.88 reached just one month ago.

The market turmoil has led to significant liquidations, with Bitcoin contributing $337.00 million, followed by Ethereum (ETH) at $77.86 million, and Solana (SOL) with $26.58 million. Other smaller altcoins, including XRP, also experienced notable sell-offs. XRP, currently priced at $2.28, saw a 3.55% surge in the past day, as crypto investors grapple with market uncertainty and unpredictable price movements.

Analysts suggest that the ongoing volatility may continue as traders react to fluctuations in sentiment and regulatory news. Popular analyst Michael Van De Poppe noted, "Bitcoin price reached $83-87K. Today is important. If Bitcoin can close north of $87K and most of the Altcoins can close green, that's a good first step. Again, max peak in negative sentiment where I've received a lot of 'panic' messages is usually a great sign."