Bitcoin has experienced a significant decline, falling below $92,000, amidst a broader cryptocurrency market selloff. This drop has triggered over $700 million in liquidations within the last 24 hours, with Bitcoin alone accounting for $142.5 million of the total, including $101 million in long positions. The selloff has also affected other major cryptocurrencies, with Ethereum and Dogecoin experiencing declines. The market's volatility has been attributed to a stronger U.S. dollar, rising U.S. Treasury yields, and a cautious approach to Federal Reserve rate cuts in 2025. These macroeconomic factors have led to a bearish investor sentiment, with the total market cap reaching $3.4 trillion this year, and Bitcoin's dominance at 58%. Over $525 million in liquidations have affected 186,000 traders, with additional liquidations amounting to $397.55 million reported. Bitcoin's price has dropped by 2.54% to $92,600 ahead of upcoming job data.