The cryptocurrency market has experienced a significant downturn, with the overall market value dropping by 17% to $2.4 trillion since Bitcoin's mid-March peak of $73,798. This decline has triggered over $150 million in liquidations across various cryptocurrencies, including Bitcoin and Ethereum. Bitcoin alone saw more than $80 million in leveraged positions liquidated in a single four-hour period. Additionally, Bitcoin's price decreased by 20%, which led to the liquidation of over $34 million in Bitcoin longs in derivatives markets.