China's Xinjiang Blackout and Bitcoin Hashrate Correction Caused BTC Price Crash

It’s no less than a major bloodbath in the crypto market as the Bitcoin (BTC) price is down 8.5% tanking below $57,000 levels. At press time, BTC is trading at a price of $$56,971 with a market cap of $1.089 trillion. This solid price crash resulted in nearly $10 billion in Bitcoin liquidations in an hour’s time.