The trading day continued with heavy losses for Bitcoin, which fell to its lowest in two months below $59,300. The situation is even worse for altcoins, with ETH falling below $3,000, SOL losing 8%, and several other cryptocurrencies posting double-digit declines.

Just a few hours ago, Bitcoin bulls took the lead and began an impressive rally that brought the asset close to $65,000 for the first time in several days.

However, he was unable to overcome this level, and the subsequent failure led to dire consequences. Amid the disappointing debut of Bitcoin and Ethereum spot ETFs in Hong Kong, the largest cryptocurrency fell several thousand dollars during the day and continued to fall in the following hours.

As a result, the total value of liquidated positions soared to nearly $400 million per day. More than 110,000 traders suffered losses during the same period, the largest of which was liquidated on Bybit, amounting to more than $5 million.