With Bitcoin BTC sold off over 3K nearly 300 million in liquidations

Coinworld reported:
BTC’s failure to break its historical high has led to significant rejections, causing it to struggle earlier today and drop below $69,000.
Altcoins followed suit, inflicting harm on over-leveraged traders, with more than 90,000 such market participants incurring losses over the past day.
Bitcoin/Price/Chart 01.11.2024. Source: TradingView
This week, major cryptocurrencies performed well, likely due to significant net inflows into 11 U.S. spot Bitcoin ETFs. As reported,
October 30 was the second-best day for net inflows since the financial product’s launch in mid-January.
On Tuesday, the rebound peaked at $73,600, meaning Bitcoin was just $150 away from setting a new all-time high.
While the community anticipated this occurrence at any moment, BTC slightly retraced
on Wednesday and Thursday, with prices falling to $72,000, crashing a few hours ago.
It plummeted within minutes from the aforementioned level to below $69,000, losing over $3,000 in the process. As of now, it has regained some ground but remains well below $70,000.
Over the past day, many altcoins suffered even greater losses, with ETH and SOL each down 5%. The two largest meme coins—DOGE and SHIB—fell by 7.5% and 6.2%, respectively.
Since yesterday, the total market capitalization of all crypto assets has decreased by approximately $100 billion, now below $2.45 trillion.
This heightened volatility has resulted in the liquidation of over 90,000 traders in the past day. According to CoinGlass, the total value of liquidated positions reached $280 million, with the largest single position loss occurring on Binance, exceeding $11 million.
Liquidation heat map. Source: CoinGlass