More than 1 billion USD worth of cryptocurrencies is being forcefully liquidated, exacerbating the slump of Bitcoin.

As Bitcoin fell to a two-month low, market sentiment worsened, leading to nearly $1.5 billion in cryptocurrency being liquidated in the past 24 hours. According to data compiled by CoinGlass, this forced deleveraging, in which cryptocurrency exchanges automatically liquidate high-risk trades, has reached its highest level since February. On Tuesday, the price of Bitcoin fell by 7%, dropping below $67,000 for the first time since April. Persistent concerns about the Iran conflict, as well as continued selling by major holding institution Strategy Inc., have kept investor risk appetite suppressed. Currently, the price of Bitcoin has dropped by nearly 50% from its all-time high of around $126,000 set in October of last year. The decline in Bitcoin comes as the AI investment craze is once again boosting momentum for US stocks, and investors are hopeful for a peace agreement between the US and Iran, causing the stock market to continue to soar.