The price of #bitcoin has experienced a decline for three consecutive days, resulting in a significant number of liquidations.

The cumulative value of liquidations throughout the past 24-hour period amounted to around $73 million.

Cryptocurrencies like as Bitcoin SV, Bitcoin Cash, and Aave are in the forefront of the ongoing market downturn.

The price of Bitcoin (BTC) had a significant increase of almost 10% from September 27 to October 2, resulting in the establishment of a peak value of $28,613. The aforementioned action prompted several cryptocurrencies to temporarily halt their downward trajectory and initiate a bullish breakthrough. However, recent developments over the past two days have underscored the importance of exercising caution for investors. 

The abrupt surge in the price of Bitcoin (BTC) undoubtedly held a strong appeal, however, the subsequent quick downturn resulted in a decline of 5.21% for BTC. According to CoinGlass, the unexpected occurrence resulted in liquidations valued at $73 million during the past 24 hours, catching the attention of profit-driven investors. 

Investors engage in a rapid and widespread selling of alternative cryptocurrencies, driven by a state of fear.

The price of Bitcoin SV (BSV) has experienced a decline of almost 10% during the past 24 hours, while Aave (AAVE) and Bitcoin Cash (BCH) have witnessed losses of 7% and 5.60% respectively. 

Among the total liquidations amounting to $73 million, a mere $11.28 million originated from Bitcoin long positions, with the remaining liquidations being from altcoins.

The first performance of the inaugural Ethereum futures exchange-traded fund (ETF) has been underwhelming, resulting in a substantial sum of $6.77 million being liquidated from Ethereum positions.