Bitcoin, Ethereum, and Dogecoin experience significant drops amid $1.16 billion in crypto liquidations

Bitcoin has plummeted 4% this month, and Ethereum has suffered a 7% drop to a near three-month low. Meanwhile, liquidations have surged, damaging long positions worth about $1.08 billion.

Many altcoins, most notably Dogecoin and XRP, are experiencing declines between 7% and 9%, reflecting ongoing bearish sentiment in the market.