Cryptocurrency markets are currently experiencing a significant decline. Bitcoin has dropped to $97,020, which is a 7% decrease from its recent peak above $108,000. This decline is part of a broader market correction that began on Wednesday and has affected major cryptocurrencies across the board.

Ethereum has seen a nearly 12% decline and is now trading at $3,422, while XRP has fallen by 11% to $2.22. Dogecoin, the meme coin, has suffered the most, plummeting nearly 20% to around $0.31. Solana has also dipped below the $200 mark, down 12% to $191. Overall, the cryptocurrency market is down approximately 9%. In the past day, over $1.17 billion in long and short positions have been liquidated, with Bitcoin leading the liquidations at $241 million. This reflects the ongoing volatility in the sector.

The recent market correction has caused significant fluctuations in the cryptocurrency market. While Bitcoin, Ethereum, XRP, Dogecoin, and Solana have all experienced declines, Bitcoin has been hit the hardest. The liquidation of long and short positions further highlights the volatility in the sector. Investors should closely monitor the market and exercise caution during these times of uncertainty.