Crypto Market Turmoil: $1.2 Billion in Losses

The cryptocurrency market continued its downward spiral, leading to significant financial damage for investors. Over the past 24 hours, crypto enthusiasts faced losses of at least $1.2 billion as Bitcoin (BTC) plummeted to under $89,000—a level not seen since the middle of November.

Aside from data provided by Bybit, other cryptocurrency exchanges revealed that an enormous number of liquidations are taking place, averaging one every second. This points to actual losses exceeding the reported $1.35 billion, stemming from both long and short positions.

For those following cryptocurrency forecasts, one CEO has a bold outlook, suggesting Bitcoin may skyrocket to $250,000 by 2025.