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Bitcoin declines amid market sell-off
Cryptocurrency prices declined today amid a wave of forced sell-offs targeting digital asset trading platforms, increasing pressure on risk appetite in the markets. Bitcoin dropped by as much as 2.4% to $83,583, while Ethereum fell by 3.9% to $2,594. Other assets such as XRP and Solana also declined, by approximately 4.2% and 3.3% respectively. The price drops were driven by the liquidation of investment positions worth around $550 million within 24 hours. Experts confirmed that this decline reflects margin liquidations rather than a long-term downward trend, as market volatility continues amidst anticipation of the Federal Reserve's meeting minutes, which could influence interest rates and yields, amid ongoing global risk aversion.
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