Bitcoin Slips Below $59K as Crypto Market Faces $132M in Liquidations

On Sunday, bitcoin slipped below the $60,000 mark and dipped even further beneath the $59,000 range. The leading cryptocurrency touched an intraday low of $58,315, after previously hitting a high of $61,868 earlier in the day.

Crypto Crash Course: Long Positions Take a Tumble in Sunday’s Wipeout

Statistics show the broader crypto market saw a decline of 3.18% over the past 24 hours, bringing its total value down to $2.06 trillion. Bitcoin (BTC) itself dropped by 3.8% in the same period, reaching its low of $58,315 on the exchange Bitstamp at 5:13 p.m. EDT. Although global crypto trading volume increased by 7.53% compared to the previous day, it remained subdued compared to the previous week. This latest dip in value adds up to a 13.9% loss for BTC over the last two weeks against the U.S. dollar.