Crypto Crash: $864M Liquidated, Bitcoin Falls 7% in 24 Hours

In a significant market movement, over $864 million was liquidated from the cryptocurrency market in the past 24 hours, with a notable $210 million of that occurring in just the last 60 minutes. This massive sell-off, which saw Bitcoin's value fall by 7%, has affected major cryptocurrencies including Bitcoin, Ethereum, and Solana, leading to a sharp decline in their values. The rapid liquidation suggests a market correction might be underway, especially as the industry approaches a critical halving event. The sell-off has not only impacted individual investors but also led to over $200 million in crypto long positions being liquidated in a single hour, indicating a widespread impact across various digital assets. Additionally, the US Government has emerged as the largest government holder of Bitcoin, with holdings over $14.5 billion. This event marks one of the largest liquidations in the crypto market in recent times.