Bitcoin’s blistering rally has taken a sharp turn: after peaking, its price dropped rapidly from about $114,780 to a low near $108,700, sparking over $900 million in liquidations. Analysts point to a liquidity purge triggered by leveraged long positions being unwound. Ethereum and other altcoins also suffered heavy losses—Ethereum fell from a high near $4,955 to about $4,420. With key Federal Reserve policy decisions approaching, market watchers are wary of further declines.

Source: Gulf News