Crypto Markets See Steep Losses as Bitcoin Drops Below $42K, Sparking Over $335M in Liquidations
• BTC, ETH, SOL and other major altcoins started the Asia trading day deep in the red, with BTC down 5% to $41,300 at one point
• Ether hit a low of $2,170 before rebounding to $2,239; Solana dropped to $66 before recovering to $70
• Over $335M in crypto liquidations occurred in last 12 hours, led by BTC and ETH with over $89M and $74M liquidated
• On-chain analyst Willy Woo wrote BTC prices may correct down to $39,700 to fill CME gap at that level
• Price gaps like those on CME Bitcoin futures occur due to mismatch between CME's US trading hours and 24/7 crypto markets