Crypto Market Crash: With Bitcoin and Ether seeing their most epic liquidation event to date, the market was left gasping for breath. In an incredible 24-hour period, the market suffered an incredible $19 billion-wiping clean-truly one of the most horrible liquidations in modern history.

Crypto Market Crash:

As market tracking figures reveal, Bitcoin broke below a significant support level and was priced around $55,000, while Ether tanked below $2,300, also a steep decline, which wiped out weeks of gains. Analysts suspect that the crash was a culmination of institutional heavy profit booking against international interest rate hikes with some intense volatility thrown in the mix.

Liquidation largely focused on leveraged positions with thousands of traders being forced into liquidation across major exchanges in the process. Some experts are eager to warn that this correction could be the onset of consolidation for the entire market, especially as the investor sentiment shifts toward caution.

Some analysts are of the view that this crash could be seen as a buying opportunity for long-term investments. Historically, after a harsh correction, Bitcoin and Ethereum have rallied strongly on significant increase in institutional interest and advancing technology within the crypto ecosystem.

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Meanwhile, altcoins are also facing monumental losses with coins such as Solana, XRP, and Cardano down between 10 and 20 percent. The overall cryptocurrency market capitalization now seriously sits below the $2 trillion mark, so far the lowest in months.

While traders weigh their implications, experts warn against the use of leverage in high-volatility settings. To reiterate how quickly fortunes can change, the latest crash shows that uncertainty always reigns supreme in the crypto world.

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