The cryptocurrency market faced a significant downturn, with over $1.1 billion in positions liquidated within 24 hours. Bitcoin, Ethereum, and Dogecoin experienced sharp declines, with losses ranging from 4% to 9%. This market correction occurred despite positive trends in US stock markets, suggesting a lack of clear catalysts for the drop. Data from CoinGlass revealed that $1.08 billion in long positions were liquidated, highlighting substantial selling pressure. Analysts pointed to weak technical indicators and a decrease in institutional interest, as Bitcoin ETFs saw $798.95 million in net outflows last week.