Major cryptocurrency took a hit on Tuesday evening, as Bitcoin encountered selling pressure leading as halving approaches. What Happened: The leading cryptocurrency dropped 5.7% to $65,742, bringing an end to the week-long consolidation between $68,000 and $72,000. Bitcoin’s upcoming halving event is expected on April 21, which will reduce the pace of BTC production by 50%. Long liquidations, which occurred during a period of heightened volatility, particularly stood out. On April 2, long positions totaling over $115 million were liquidated within a 24-hour timeframe. Notably, Bitcoin long liq…