The cryptocurrency markets continue bleeding out, with Bitcoin dropping to as low as $101,000 earlier today.<\/p>\n
At the time of this writing, BTC recovered slightly and trades above $102,000 but analysts are scraping for answers and looking for the local bottom.<\/p>\n As seen from the 1-hour chart, at least on that time frame, the cryptocurrency has been in a clear downtrend for the past five days, marking lower highs and lower lows consistently.<\/p>\n Data from Coinglass also reveals elevated levels of liquidated positions across the leverage market. Almost $700 million were wiped off, which is a 35% increase compared to the day before. Naturally, the overwhelming majority of that were longs, accounting for around $600 million of the total.<\/p>\n The heatmap below also paints a depressing picture. As you can see, with the exception of LEO, every single altcoin from the top 50 (by market capitalization) is charting significant losses over the past 24 hours.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n![\"Screenshot](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/06\/BTCUSD_2025-06-22_06-41-39.png\")
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