Liquidations Hit $480M In a Hour as Bitcoin Plunges Below $81K

Bitcoin prices plunged below $81K following another transfer from the US government, triggering $480M in liquidations within a single hour. These long liquidations represent the largest level seen since early June. The recent market volatility highlights the significant risks associated with high leverage in crypto trading. Consequently, the situation emphasizes the critical need for traders to implement cautious risk management strategies to navigate the current instability and avoid further substantial financial losses during price drops.