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BITCOIN PRICE PLUMMETS UNSTOPPABLY, CRYPTO MARKET BURNS RED Bitcoin dropped 13.24% to 63,490.33 USD in the past 24 hours, underperforming the broader market sell-off and mainly due to a massive liquidation wave. - Main cause: A massive liquidation triggered by derivatives, with over 1.1 billion USD worth of BTC positions being forcibly closed, accelerating the sell-off. - Secondary cause: A broad sell-off in risky assets, with the total crypto market capitalization dropping 9.92%. - Additionally, GamesTop transferred 4,710 BTC to a CEX in preparation for selling.

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