Bitcoin Price Drops Below $108K Triggering $320M Crypto Liquidations as Market Corrects Overleveraged Positions

Bitcoin experienced significant downward pressure, falling below the $108,000 price level amid substantial market liquidations totaling $320 million. The cryptocurrency market correction appears to be systematically eliminating excessive leverage that had built up in the system. This market movement reflects a necessary adjustment phase where overleveraged positions are being liquidated, creating healthier market conditions for future growth. The substantial liquidation volume indicates widespread position closures across major cryptocurrency exchanges as traders faced margin calls and automatic position closures.