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In the past 24 hours, the cryptocurrency market has witnessed a liquidation of $1.48 billion. This event occurred due to a sharp decline in the price of cryptocurrencies, especially Bitcoin, and caused a lot of volatility in the market. These liquidations affected various trading pairs such as BTC/USDT and created a wave of changes in the market situation. Following this event, the price of Bitcoin fell below $88,000 and the total value of the cryptocurrency market fell by 9%. CoinGlass data shows that 385,000 traders have been liquidated in the past 24 hours. It is worth noting that most of the liquidated positions were long positions

Maybe it's because of the fluctuations and developments in the price of gold and the dollar.