Bitcoin Price (BTC) Tumbles Below $109K

Bitcoin has fallen below $109,000, reaching its lowest price in nearly a month. Ether also faced significant declines, dropping 8% to nearly $3,800. The market selloff triggered approximately $1.1 billion in liquidations across leveraged trading positions, particularly affecting ETH long positions, which amounted to over $400 million. Bitcoin liquidations were about $265 million. Stocks of crypto equities, notably Michael Saylor's MicroStrategy (MSTR), declined by up to 10%, leading to the loss of all gains made this year. This steep market drop has sparked concerns about possible retests of August's lows at around $107,000, which could provide a potential support level for future price movements. Overall, the crypto market, including the CoinDesk 20 Index, experienced a downturn, reflecting a broader sentiment of fear among investors.

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