Crypto Market Faces Largest Deleveraging Event of 2024 with $1.7 Billion Liquidated

The cryptocurrency market recently experienced a significant shakeup with its largest deleveraging event of 2024, resulting in approximately $1.7 billion in liquidations on Monday alone. This sudden market movement saw Bitcoin's price decline by 0.2%, reflecting the ongoing volatility in the crypto space.

Deleveraging events like this occur when investors reduce their leveraged positions, often triggered by sudden market fluctuations, leading to forced liquidations that can amplify price swings.

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