Bitcoin Drops Toward $69,000 as $951 Million in Crypto Liquidations Hit Derivatives Market

Bitcoin extended its decline on Wednesday, sliding toward $69,000 after losing the $74,000 level and registering a daily loss of about 4%. More than $951 million in crypto positions were liquidated over the past 24 hours, with roughly $790 million in longs wiped out and Bitcoin and Ethereum accounting for the bulk of the damage.