Bitcoin's surging price above $70,000 has triggered a massive wave of liquidations, affecting over 426,000 traders and leading to losses over $2 billion. This volatility follows a broader trend of declining investment value in tech and cryptocurrency markets, where companies like MARA Holdings, Inc. have drastically lost value, reflecting heightened investor concerns. As bearish sentiments swirl and retail performance starkly diverges, analysts urge caution, suggesting a reevaluation of long positions and a wait for consolidation at critical support levels amidst a backdrop of ongoing market instability.
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