Crypto Market Faces $600M Liquidation, More Dip Incoming?
The post Crypto Market Faces $600M Liquidation, More Dip Incoming? appeared on BitcoinEthereumNews.com. The crypto market has continued to bleed, with most of the top cryptocurrencies recording massive selling pressure today. Notably, the dip comes after the broader digital assets space offered a robust return in July, which has sparked market optimism. In addition, the recent retreat in Bitcoin and Ethereum also suggests that not only the retailers, but also the institutions are losing their confidence. So, here we take a quick tour of the current market movements and see what lies ahead for the top players in the space. Crypto Market Faces $600M Liquidation, Sparking Concern The global crypto market cap has lost more than 2% today and slipped to $3.69 trillion. Notably, the market cap has lost around $200 billion from yesterday, falling from $3.83 trillion. Bitcoin price has recorded a slump of nearly 2% while writing and slipped to $113,500, with its trading volume falling more than 19% to $69.81 billion. On the other hand, Ethereum price was down around 4% to $3,508, while other altcoins like XRP, BNB, SOL, and others plunged between 2% and 5%. Meanwhile, CoinGlass data showed that the crypto market witnessed a massive wave of liquidations yesterday, with over 145,571 traders losing their positions. The total liquidation value comes in at $602.50 million. Binance recorded the largest single liquidation order, valued at $4.45 million for ETHUSDC. Amid this, the experts anticipate a further dip in Bitcoin (BTC) price, which has sparked investors’ concern. In addition, panic selling by investors has also intensified, fueling fears of additional declines in the market. Experts Warn of Further Dip Amid the ongoing dip in the crypto market, market pundits have shared bearish projections for Bitcoin and Ethereum, hinting at the possibility of further declines ahead. For context, BitMEX co-founder Arthur Hayes has made a gloomy prediction about the future…
The post Crypto Market Faces $600M Liquidation, More Dip Incoming? appeared on BitcoinEthereumNews.com.
The crypto market has continued to bleed, with most of the top cryptocurrencies recording massive selling pressure today. Notably, the dip comes after the broader digital assets space offered a robust return in July, which has sparked market optimism. In addition, the recent retreat in Bitcoin and Ethereum also suggests that not only the retailers, but also the institutions are losing their confidence. So, here we take a quick tour of the current market movements and see what lies ahead for the top players in the space. Crypto Market Faces $600M Liquidation, Sparking Concern The global crypto market cap has lost more than 2% today and slipped to $3.69 trillion. Notably, the market cap has lost around $200 billion from yesterday, falling from $3.83 trillion. Bitcoin price has recorded a slump of nearly 2% while writing and slipped to $113,500, with its trading volume falling more than 19% to $69.81 billion. On the other hand, Ethereum price was down around 4% to $3,508, while other altcoins like XRP, BNB, SOL, and others plunged between 2% and 5%. Meanwhile, CoinGlass data showed that the crypto market witnessed a massive wave of liquidations yesterday, with over 145,571 traders losing their positions. The total liquidation value comes in at $602.50 million. Binance recorded the largest single liquidation order, valued at $4.45 million for ETHUSDC. Amid this, the experts anticipate a further dip in Bitcoin (BTC) price, which has sparked investors’ concern. In addition, panic selling by investors has also intensified, fueling fears of additional declines in the market. Experts Warn of Further Dip Amid the ongoing dip in the crypto market, market pundits have shared bearish projections for Bitcoin and Ethereum, hinting at the possibility of further declines ahead. For context, BitMEX co-founder Arthur Hayes has made a gloomy prediction about the future…
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