.png?#)
Bitcoin, Ethereum and Dogecoin Slide as Crypto Liquidations Top $900 Million
The post Bitcoin, Ethereum and Dogecoin Slide as Crypto Liquidations Top $900 Million appeared on BitcoinEthereumNews.com. Major cryptocurrencies like Bitcoin, Ethereum, XRP, and Dogecoin continued to fall Monday, triggering a wave of liquidations that topped $900 million over the past 24 hours. Bitcoin dropped below $110,000 for the first time since early July, spearheading a market-wide swoon after a whale unloaded 24,000 BTC worth $2.7 billion on Sunday. The continued dive also comes amid fresh doubts about the prospects of an interest rate cut and other macroeconomic uncertainties. The largest cryptocurrency by market value was recently trading at $110,441, down 2.2% over the past 24 hours. BTC is down more than 5% over the past week. “The weekend whale sale may have sparked the initial downdraft, but the broader picture is one of thinning liquidity and skittishness around macro,” Joe DiPasquale, CEO of crypto fund manager BitBull Capital, wrote to Decrypt. “With rate-cut hopes being pushed further out and equities wobbling, crypto was vulnerable to a sharper move lower once heavy supply hit the market,” he added. “What we’re seeing is less about one seller and more about a market that remains highly sensitive to outsized flows against a backdrop of macro uncertainty.” Ethereum, the second largest digital asset, plunged 8% to trade at $4,375, just a day after reaching its latest record high. ETH topped $4,900 for the first time in its history on Sunday, two days after breaking its long-standing price record from 2021. Crypto prices are in the red up and down the charts, with Dogecoin diving by more than 10% to $0.208, Solana falling 8.5% to $186 after reaching a six-month high on Sunday, and XRP dropping nearly 6% to $2.85. More than $900 million worth of futures positions have been liquidated across the crypto market over the last day, per data from CoinGlass, led by Ethereum at $320 million and Bitcoin…
The post Bitcoin, Ethereum and Dogecoin Slide as Crypto Liquidations Top $900 Million appeared on BitcoinEthereumNews.com.
Major cryptocurrencies like Bitcoin, Ethereum, XRP, and Dogecoin continued to fall Monday, triggering a wave of liquidations that topped $900 million over the past 24 hours. Bitcoin dropped below $110,000 for the first time since early July, spearheading a market-wide swoon after a whale unloaded 24,000 BTC worth $2.7 billion on Sunday. The continued dive also comes amid fresh doubts about the prospects of an interest rate cut and other macroeconomic uncertainties. The largest cryptocurrency by market value was recently trading at $110,441, down 2.2% over the past 24 hours. BTC is down more than 5% over the past week. “The weekend whale sale may have sparked the initial downdraft, but the broader picture is one of thinning liquidity and skittishness around macro,” Joe DiPasquale, CEO of crypto fund manager BitBull Capital, wrote to Decrypt. “With rate-cut hopes being pushed further out and equities wobbling, crypto was vulnerable to a sharper move lower once heavy supply hit the market,” he added. “What we’re seeing is less about one seller and more about a market that remains highly sensitive to outsized flows against a backdrop of macro uncertainty.” Ethereum, the second largest digital asset, plunged 8% to trade at $4,375, just a day after reaching its latest record high. ETH topped $4,900 for the first time in its history on Sunday, two days after breaking its long-standing price record from 2021. Crypto prices are in the red up and down the charts, with Dogecoin diving by more than 10% to $0.208, Solana falling 8.5% to $186 after reaching a six-month high on Sunday, and XRP dropping nearly 6% to $2.85. More than $900 million worth of futures positions have been liquidated across the crypto market over the last day, per data from CoinGlass, led by Ethereum at $320 million and Bitcoin…
What's Your Reaction?
