Data shows the cryptocurrency derivatives market has been hit with nearly $1.4 billion in liquidations as Bitcoin and altcoins have crashed.

Bitcoin Has Witnessed A Plunge Below $104,000

The first week of November has kicked off on a bearish note for the cryptocurrency sector as Bitcoin and other digital assets have plummeted. BTC is down to $103,800 for the first time since its brief dip in mid-October, sitting on a weekly loss of more than 9%.

Before the October retest, the last time Bitcoin was at the mark was all the way back in June. Thus, if the cryptocurrency persists at these levels in the coming days, it would have observed a multi-month reset.

Ethereum is in a similar position, dropping to $3,480, the lowest since the start of August. ETH’s weekly return is even worse, standi

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