A sharp correction in the cryptocurrency market triggered $1.7 billion in liquidations within 24 hours, with Bitcoin falling from over $100,000 to nearly $94,000, Coinglass data shows. The selloff resulted in short and long liquidations, shrinking the overall crypto market cap by 7.5%. Speculation links the selloff to Bhutan’s Bitcoin transfers and Google’s launch of the ‘Willow’ quantum chip.