The cryptocurrency market experienced a significant downturn on February 6, with Bitcoin briefly dropping under $60,000 and the overall market capitalization falling by about 9%. Major assets like Ethereum declined over 10%, while the PayFi sector saw losses close to 14%. This selloff resulted in $2.7 billion in liquidations in derivatives markets, primarily from long positions, with Bitcoin experiencing realized losses surpassing previous major crypto crises.
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[IMPORTANT] Crypto Market Rout Intensifies: Bitcoin Falls Below $60K, $2.7B Liquidated in 24 Hours
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