BTC's early morning plunge triggers the largest liquidation in three years, with Coinbase traders becoming a key factor in the decline

ChainCatcher message, this morning Bitcoin price plummeted to nearly $94,000, causing the total cryptocurrency market cap to drop by 11%, with liquidation volume reaching the highest record since 2021.

Research institution Ltrd pointed out that analysis shows Coinbase traders became a key factor in the decline. "Coinbase users began large-scale selling an hour before the crash, triggering a cascade of liquidations that further depressed prices."