Bitcoin and Altcoins Are Falling Again! Why Did BTC Fall? Is the Reason for the Fall Known? Here is the Answer!

The U.S. Department of Justice (DOJ) has issued subpoenas to Nvidia Corp. and other companies in its ongoing investigation into chipmaker Nvidia's alleged violations of antitrust laws, Bloomberg reported.

The Justice Department, which previously sent questionnaires to companies, has now issued legally binding subpoenas compelling recipients to provide information, Bloomberg reported, citing people with knowledge of the investigation.

This move by the DOJ caused a sharp decline in NVDA stock and the Nasdaq market, as well as a decline in Bitcoin and the crypto market.

Bitcoin, which shot up to $55,000, then reached $56,000, while Ethereum (ETH) fell below $2,400.

Solana (SOL) fell 5.2% to $127, Toncoin (TON) fell 7.8% to $4.82 and BNB fell 3.6% to $513.

This decline caused a large number of long positions to be liquidated. According to Coinglass data, $194 million worth of leveraged trades were liquidated in the last 24 hours. $169 million of these were long positions and $25 million were short positions.

In the last 24 hours, 73,571 investors liquidated, with the largest single liquidation order occurring on Binance in the ETH/USDT trading pair. The value of the transaction was $2.94 million.

The most liquidations occurred in Bitcoin and Ethereum, followed by Solana.

*This is not investment advice.