Bitcoin fell below 98,000 dollars, a decline in the crypto market.

Bitcoin Decline and Market Effects

Bitcoin has fallen below $98,000 for the first time since May. This significant drop has led to a noticeable decline in major cryptocurrencies as well.

In the last 24 hours, over $1 billion in leveraged crypto positions has reportedly been liquidated. The largest of these liquidations was a $44 million long position in Bitcoin.

Economic data from China and decreasing expectations for a Federal Reserve interest rate cut have contributed to this decline in the crypto and stock markets.