Once again, Bitcoin is under $20,000

Despite the rally over the past two weeks, the major cryptocurrency experienced a sudden and rapid decline today.

Bitcoin price is down almost 5%, falling below the $20,000 .

The 24 hour liquidation total was approximately $360 million.

The recent rise in the price of Bitcoin brought many hopes that the crypto winter is coming to an end, but this did not happen.

Today, the market has turned red, with the majority of cryptocurrencies posting significant declines.

This resulted in the liquidation of approximately $400 million from both long and short positions.

The original cryptocurrency price of the FTX trading platform has been performing poorly.

At the time of writing this article, the price of the digital currency FTT is down by about 21%.

This comes as a result of Binance's pledge to liquidate its FTT holdings and sparking an argument between "CZ" and "Sam Bankman Fred".

Bitcoin also took a big hit, falling below $20,000 for the first time in two weeks.

Altcoins are no better, as Ethereum and XRP are down about 6%.

The situation is even worse when looking at meme coins.

Dogecoin has lost more than 12% of its value, while SHIB has fallen by 8%.

As of the time of writing this article, the global cryptocurrency market cap is around $982.7 billion, which is a 5% drop in the last 24 hours.