Bitcoin price broke below $61,000 on Monday as bearish pressure intensified, and the market has seen over $320 million in total liquidations in 24 hours as a result.

With bulls unable to hold key price levels as BTC traded lower, today’s dip sees buyers staring at a potential dip to the psychologically important $60,000 level.

The bloodbath is also visible across the altcoin market as Ethereum failed to hold above the $3,300 level. Meanwhile, Solana, BNB and XRP all shed significant chunks of recent gains. Uniswap and Maker, down 12% and 9% in the past 24 hours, are the biggest losers among the top 50 coins by market.

Liquidations hit over $320 million in past 24 hours

As Bitcoin slumped past $62,000 on Monday, total liquidations across the crypto market moved past $300 million. 

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