The cryptocurrency market experienced significant volatility, with over $1 billion in liquidations occurring within the past 24 hours. Bitcoin saw a dramatic drop from $104,000 to $92,092 before recovering to $96,000, resulting in over $100 million being liquidated in the last hour alone. This led to the liquidation of over $450 million in long positions in the last hour, with the largest Bitcoin liquidation candle since the FTX incident, dropping from $99,000 to $92,000 in just two minutes. Over 211,642 traders were affected by these liquidations, highlighting the intense market activity and the battle for Bitcoin to reach the $100,000 mark, which saw a 12% range in one day.