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The cryptocurrency market experienced a severe downturn over the past 24 hours, with Bitcoin hitting a seven-week low. More than $900 million in positions were liquidated as 200,000 traders faced forced exits from their positions.
- A single large sale of 24,000 BTC triggered a cascade of liquidations affecting 200,000 traders
- Federal Reserve Chair Powell's Jackson Hole comments on potential rate cuts contributed to changed risk assessment among crypto investors
- Ethereum demonstrated relative stability compared to Bitcoin, maintaining institutional interest despite broader market turmoil
📎 Related coverage from: newsbtc.com