Key takeaways:
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Bitcoin price is down 17% from its all-time high on Tuesday, dropping under $104,000.
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Crypto liquidations totaled $1.3 billion in losses over the past 24 hours.
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Traders say Bitcoin needs to quickly reclaim $105,000 to avoid a deeper correction toward $100,000.
Bitcoin (BTC) bears extended the sell-side activity into the European Trading session on Tuesday as the drop to $104,000 resulted in a large liquidation of leveraged positions across the crypto market.
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