Losses are still occurring across the vast cryptocurrency market, with some of the top cryptocurrencies bearing the brunt of the damage. Bitcoin has dropped by more than 5% to around $46,000 at the time of writing, while Ethereum has also taken a hit, losing 6.2 percent of its value in 24 hours. Liquidations increased to over $312 million in less than an hour, with Bybit accounting for more than half, or $153 million.