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<ul><li>Bitcoin drops below $54K, triggering $700M in liquidations, says Michaël van de Poppe.</li><li>Altcoins like XRP and BNB face steeper losses, with XRP hitting a one-year low.</li><li>Michaël van de Poppe advises against panic selling amid the largest liquidation since FTX.</li></ul>The crypto market has experienced a significant downturn, with both Bitcoin and leading alternative coins suffering severe losses. Michaël van de Poppe, CIO and Founder of MN Trading Consultancy, recently <a href="https://x.com/CryptoMichNL/status/1809121873734594924" rel="noopener noreferrer nofollow">shared</a> his thoughts on X, expressing surprise at the market&#39;s unexpected fall and reaffirming his decision not to sell his positions in altcoins. This steep decline has resulted in substantial liquidations, with Bitcoin falling below $54,000 for the first time since February 2024.<img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdVB_zYzlrIKzNLc61WfVOmrlYu8Qz-C2r3zWfpLK8EaRPu2qCZ7pDFaSR8VxKNanV1SEtHHCx7mVBS6fyatuW7YartL2v3l18DsTKRzWb3XMxH7EjGxtzpkWNRBE0ad6RbIcwtjNqZ3SXIGo1wCOAs5PBq?key&#61;j_VA8B_059u9cnxhJ-Xvzg" />Bitcoin, the primary crypto, <a href="https://cryptotale.org/bitcoin-faces-historic-sell-pressure-is-now-the-time-to-buy/" rel="noopener noreferrer nofollow">saw its price dip</a> below $54,000 earlier today, marking its lowest point since February. This dramatic drop has led to the liquidation of nearly $700 million in positions, severely impacting over-leveraged traders. Additionally, the market&#39;s overall capitalization has plummeted to $2.07 trillion, reflecting an 8.6% decrease over the last 24 hours. Consequently, the significant downturn has not only affected Bitcoin but has also led to widespread panic among investors.<a href="https://cryptotale.org/analyst-reaffirms-strategy-amidst-bitcoin-and-altcoin-liquidations/" rel="noopener noreferrer nofollow">Read more on CryptoTale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

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