The Bitcoin price extended its decline on Tuesday, plunging below $103,700, its lowest level since June, as the crypto market faced one of the largest liquidation waves in weeks.

Data from Coinglass showed that more than $1.27 billion in leveraged positions were wiped out in 24 hours, with long traders accounting for nearly 90% of the losses. The slide follows Bitcoin’s break below its 200-day moving average near $109,800, a critical support zone that had held firm for four months.

The Bitcoin price drop triggered widespread panic, pushing the Crypto Fear & Greed Index to 21, signaling “extreme fear.” Altcoins mirrored the weakness, with Ethereum (ETH) dropping 6% to $3,500, Solana (SOL) sliding 10% below $160, and XRP shedding 5.5%.

Market analysts attributed the downturn to renewed

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