By NewsBlogger Bitcoin and altcoins experienced a significant downturn in the crypto market, with Bitcoin attempting to reach $70,000 but ultimately dropping to $67,500, marking its lowest point since June 3, while Ethereum also saw a decline of 3.5% to $3,560, leading to liquidated positions surging to approximately $170 million on a daily scale.
At a glance
- Bitcoin and altcoins experienced a significant downturn in the crypto market.
- Bitcoin attempted to reach $70,000 but was ultimately rejected, leading to a drop of over $2,000 in just one hour.
- The decline also affected altcoins, resulting in an $80 billion loss in the total crypto market cap.
- Liquidated positions surged, reaching approximately $170 million on a daily scale.
- ETH holds the largest portion of the liquidated positions, with more than 75,000 traders being liquidated within the same timeframe.
The details
Bitcoin and altcoins have experienced a significant downturn in the crypto market.
Bitcoin attempted to reach $70,000 but was ultimately rejected.
This rejection led to a drop of over $2,000 in just one hour.
The decline also affected altcoins, resulting in an $80 billion loss in the total crypto market cap.
Liquidated positions surge
Liquidated positions have surged, reaching approximately $170 million daily.
Over the weekend, BTC’s price movements were lackluster.
However, positive signs were shown on Monday.
Despite briefly breaching $70,000, Bitcoin dropped to $67,500.
This marked its lowest point since June 3.
Ethereum also saw a decline of 3.5%, falling to $3,560.
Similar decreases were seen in other altcoins.
Binance Coin experienced a significant drop of over 7% in the past 24 hours.
It is now trading below $620.
Other altcoins such as NOT, W, JASMY, and BRETT also faced notable price declines.
Liquidated positions value
The total value of liquidated positions in the past 12 hours has reached up to $120 million.
This increased to $170 million on a daily scale.
More than 75,000 traders have been liquidated within the same timeframe.
ETH holds the largest portion of the liquidated positions.
A single-biggest liquidated position was worth over $6.5 million on Binance.
The market volatility and extensive liquidations highlight the current challenges in the cryptocurrency market.
These uncertainties are prompting traders to monitor price movements closely.
Traders are adapting their strategies accordingly.
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| cryptonews.net |
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| – Bitcoin attempted to reach $70,000 but was rejected and dropped over $2,000 in an hour – Altcoins also turned red, leading to an $80 billion loss in the total crypto market cap – Liquidated positions have reached roughly $170 million on a daily scale – BTC’s price actions were dull over the weekend but began positively on Monday – Despite breaching $70,000 briefly, BTC dropped to $67,500, the lowest since June 3 – Ethereum lost 3.5% and is down to $3,560, with similar declines in other altcoins – Binance Coin dropped by over 7% in the past 24 hours to under $620 – Other altcoins like NOT, W, JASMY, BRETT experienced even more significant declines – Total value of liquidated positions in the past 12 hours is up to $120 million and $170 million on a daily scale – More than 75,000 traders have been liquidated within the same timeframe – ETH is responsible for the largest piece of the liquidated positions pie, with a single-biggest liquidated position worth over $6.5 million on Binance |
