Bitcoin's market cap has dropped to $1.930 trillion after a significant decline, falling to around $94,000 before recovering slightly to over $97,000. The total crypto market cap plummeted by $300 billion, with many altcoins suffering even greater losses, including BRETT and WIF, which fell by 14% and 13%, respectively. Over-leveraged traders faced severe repercussions, with liquidated positions reaching $1.6 billion.