Bitcoin falls as crypto liquidations rise

Cryptocurrencies have sharply declined following a broad wave of debt-funded position liquidations, with Bitcoin dropping up to 2.4% to reach $83,583, and Ethereum falling 3.9% to $2,594. The market experienced liquidations totaling around $550 million within 24 hours, with indications that this decline reflects leveraged position liquidations rather than a permanent downtrend in the overall trend. Additionally, deteriorating risk appetite affected global markets, with oil prices declining and losses in European and American stocks, amid investor anticipation of the Federal Reserve's meeting minutes, which may hint at a hawkish stance on interest rates. Market volatility is expected to continue throughout the week, especially if Bitcoin drops below the $83,000 level, potentially pushing it toward $78,000 as a possible support level.

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