The sudden drop comes amid a broader risk-off sentiment and ongoing liquidity shifts in global markets ahead of Wall Street’s opening bell, after BTC showed resilience when markets across the board were slumping following the U.S. tariff announcement last week. Over $390 million worth of crypto positions were liquidated in the past 24 hours, including $325 million in long positions, according to CoinGlass data. Bitcoin accounted for $121.4 million of those liquidations, followed closely by Ethereum (ETH) with $108.6 million.