Bitcoin (BTC) Drops 7.5% to $53K, Causing $684 Million in Liquidations Across Crypto Market

The cryptocurrency market recently experienced a significant decline, with Bitcoin (BTC) witnessing a drop of approximately 7.5%, falling to $53,000. This market downturn was driven by movements in Mt. Gox wallets, miner sell-offs, and sales from the U.S. and German governments, resulting in Bitcoin falling from $58,830 to $53,898 within 24 hours. According to Coinglass,

Source: CoinOtag