The cryptocurrency market experienced a downturn with Bitcoin falling to $98,000 before recovering to $99,774. Ethereum also dipped below $3,200, currently trading at $3,246. The total market capitalization of cryptocurrencies decreased by 2.67% over the past 24 hours, now standing at $3.34 trillion. According to Coinglass, the past 24 hours saw $748 million in liquidations across the market, with long positions accounting for $596 million and short positions for $152 million. A total of 197,054 traders were liquidated, with the largest single liquidation occurring on Hyperliquid's BTC-USD pair, valued at $10.47 million.