Earlier this morning, Bitcoin (BTC) hit a yearly low of $86,888 amid a broader market downturn. According to data from CoinGlass, the crypto market sell-off led to over $1.5 billion in liquidations in the past 24 hours, impacting 394,944 traders. More Downside For Bitcoin? After trading in the mid-$90,000 range for several weeks, BTC crashed to $86,888 on the Binance cryptocurrency exchange, marking its lowest point this year. The premier cryptocurrency is down 7.6% in the last 24 hours. Related Reading: As Bitcoin Sell Pressure Fades, Could A Local Bottom Be Forming? Analyst Explains Similarly, other major cryptocurrencies have suffered sharp declines. Ethereum (ETH) is down 10.5%, XRP has dropped 14.5%, and Solana (SOL) has plummeted 18.2% in the past 24 hours. Meanwhile, the total crypto market cap has shrunk by 9%, tumbling from $3.3 trillion to $3.01 trillion over the same period. Despite the sharp market pullback, the worst may not be over for BTC just yet. According to Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered, Bitcoin could still see further losses. Kendrick noted that while BTC has performed “relatively well,” the flagship cryptocurrency rema ..
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