Bitcoin's Decline Continues

According to CoinGlass analytical company, in recent days, Bitcoin investors have liquidated approximately $2.56 billion in assets. The drop in cryptocurrency prices coincided with a massive sell-off of other risky assets, including stocks and precious metals.

Although this figure is significantly lower than the record $19 billion liquidation recorded following U.S. President Donald Trump's announcement of new tariffs on goods imported from China, analysts note that the latest wave once again highlights the cryptocurrency market's high sensitivity to shifts in global risk sentiment.

Bitcoin has also been under additional pressure due to new concerns surrounding trading in the artificial intelligence sector, as well as the selling of precious metals. This sell-off began after Trump's announcement that Kevin Warsh was nominated for the role of Federal Reserve Chairman.

On October 10-11, Bitcoin's price dropped to $104,782.88, just days after reaching a new all-time high of $126,000. According to the latest data, Bitcoin is currently trading in the range of $75,000-$78,000, following a decline of more than 6% recorded on Saturday.

Analysts at Bitfinex noted in a report released on Monday that the low liquidity in the market over the weekend has exacerbated the price decline.