Bitcoin’s price plummeted below $50,000, marking a dramatic 20% decrease in the last 24 hours amid a global market meltdown. The entire crypto market lost nearly 16%, with Ethereum shedding 25%, following historic lows in Japan’s Nikkei 225, down 12.40%.
Liquidations Top $1 Billion in 24 Hours Data from Coinglass shows total liquidations hit $1.03 billion, with $894.03 million in long positions. Major altcoins like BNB, XRP, and Solana dropped 22.3%, 20%, and 20% respectively.
Asian Markets Collapse on Recession Fears Tokyo’s stock market plunged, reflecting Wall Street’s losses driven by disappointing US jobs data, fueling recession fears and expectations for Federal Reserve rate cuts. The US economy added only 114,000 jobs in the previous month, the lowest since October 2021.
