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#البيتكوين drops to $86,000 with $60 million long buy positions liquidated within 30 minutes
#Bitcoin price drops to the $86,000 level, recording a decline of more than 3% over the past 24 hours, trading at $86,481.
This decline comes amid a sharp downturn in the crypto markets, where Ethereum's price fell by about 5% to $2,823, while #XRP decreased by 3% to $1.81, and Solana also dropped by 5.63% during the same period.
The fall in #BTC 's price led to the liquidation of long leveraged buy positions worth nearly $60 million in just 30 minutes, reflecting high market volatility.
Meanwhile, Mark Conners, Chief Investment Officer, stated that Bitcoin is not facing demand issues but is experiencing what he called a "supply distribution event," explaining that massive inflows into (#ETFs ) ETFs absorb large quantities of supply being relinquished by early adopters after more than a decade of holding.
He added that what is happening represents a transfer of ownership within the market, not a failure to attract interest or a decline in investor appetite in the long term.
$LTC
$XRP
$BTC