Bitcoin witnessed a dramatic downturn, plunging below 116K and sending shockwaves through the crypto markets. This caused a staggering 360 million in crypto long positions to be liquidated. Ethereum followed suit, dropping under 4300 and affecting a total of 116,598 traders. This liquidation happens just days after Bitcoin reached its all-time high of 124,457. The volatility of the crypto market continues to challenge traders and investors alike, raising questions about whether this is the peak for Bitcoin.