Over 180,000 people have been liquidated. Bitcoin has fallen by more than 15% in the past 7 days.

In recent days, the cryptocurrency market has been consistently declining. On November 18th, Bitcoin dropped by over 6% and fell below the $90,000 mark, while Ethereum also saw a drop of over 6% and fell below $3,000. According to Coinglass data, within 24 hours, the total amount of liquidated contracts in the cryptocurrency market exceeded $1 billion, with 183,500 people being liquidated. With the market widely selling off risky assets as expectations for a Fed rate cut next month diminish significantly, over the past 7 days, Bitcoin has seen a cumulative decline of over 15%, while Ethereum, XRP, Solana, and Cardano have all seen declines of over 18% with Solana and Cardano both dropping by over 20%. Since reaching its peak on October 7th, the total market value of cryptocurrencies has evaporated by over $1 trillion. Analysts point out that this round of Bitcoin's decline may be far from over, as traders in the options market are making increasingly pessimistic bets. Some market observers suggest that the cryptocurrency sell-off may trigger margin calls for retail investors, forcing them to sell off other assets to meet additional margin requirements. This could create a feedback loop from cryptocurrency sell-offs to other markets, as further price declines would trigger additional margin requirements for more asset classes.