Bitcoin is trading at 111,000 USD, clinging to a crucial support level of 110,000 USD. After a significant sell-off, its market cap has diminished by 500 billion USD.
Altcoins have fared worse, with Plasma (XPL) suffering a 58% drop in just one week, while other tokens like FET, OP, and ETHFI fell by over 35%.
The BTC futures market has stabilized at an open interest of 25.5 billion USD. Recent liquidations of 627 million USD indicate market volatility, while mixed funding rates highlight varying trader sentiment.
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