Bitcoin's (CRYPTO:BTC) price volatility persists as it falls to $54,200, reversing gains made over the weekend when it peaked near $58,500.

The market witnessed significant turbulence, resulting in over $100 million in liquidations within four hours, including $70 million from long positions and $42.64 million from short positions.

Overall, nearly $250 million in trades were liquidated in the past 24 hours, highlighting ongoing market instability.

Despite attempts at recovery, Bitcoin faced resistance, leading to a sharp decline exacerbated by fluctuating investor sentiment.

Meanwhile, Metaplanet strategically bolstered its crypto holdings with a purchase of 42.47 BTC, valued at approximately $2.35 million, amidst economic challenges in Japan.

Concurrently, German authorities moved 700 BTC amid market uncertainty, contributing to the prevailing cautious sentiment reflected in the crypto fear and greed index, which currently stands at 28, signaling fear among investors.