Despite the rally over the past two weeks, the major cryptocurrency experienced a sudden and rapid decline today.

Bitcoin price is down about 5%, below the $20,000 mark.

The 24-hour liquidation total was approximately $360 million.

The recent rise in the price of Bitcoin brought many hopes that the crypto winter was coming to an end, but this did not happen.

Today, the market has turned red, with most cryptocurrencies posting significant declines.

This led to the liquidation of approximately $400 million from both long and short positions.

The basic cryptocurrency price of FTX trading platform is performing poorly.

At the time of writing this article, the price of digital currency FTT has decreased by about 21%.

This comes as a result of Binance’s pledge to liquidate its FTT holdings and sparks an argument between “CZ” and “Sam Bankman Fred”.

Bitcoin also took a big hit, falling below $20,000 for the first time in two weeks.

Altcoins didn’t fare much better, as Ethereum and XRP were down 6%.

The situation is even worse when looking at meme coins.

Dogecoin lost more than 12% of its value, while SHIB fell by 8%.

At the time of writing this article, reached The global cryptocurrency market capitalization is around $982.7 billion, a 5% decline in the last 24 hours.

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