Altcoins have been thrust into a whirlwind of uncertainty as Bitcoin’s price tries to cling on to its $27k handle. The sudden reversal of the alpha crypto’s fortunes, retreating more than 5% in the last 24 hours, has caught many overzealous traders off guard. As a result, a flurry of liquidations totaling nearly $73 million in the same timeframe has left the crypto landscape reeling.

The bulk of these liquidations, a staggering $61.72 million, came from the altcoin arena, where tokens like Aave, Bitcoin Cash, and Bitcoin SV have taken the brunt of the collapse. Bitcoin longs contributed just $11.28 million to the overall liquidation figure, underscoring the severity of the altcoin market’s downturn.

Binance’s Watchful Eye On Altcoins

In the midst of this turmoil, Binance, one of the …