Join our Telegram Channel to keep up to date with breaking news coverage.
More than $160 million was liquidated from leveraged positions in the last 24 hours after the bitcoin“>bitcoin Price fell below $58,000 to trade at $57,934.13 at 3:20 a.m. EST.
Most of the liquidations over the last trading day were long positions, with bullish traders seeing more than $134 million wiped off their positions, according to Glass of coins Meanwhile, more than $31 million of short positions were liquidated.
<img decoding="async" alt="bitcoin vs ethereum: A Comparative Analysis of Two Industry Giants – LAB51 | All About Web3, Metaverse, ai, Cryptocurrencies and nfts in Switzerland and Beyond” src=”https://technicalterrence.com/wp-content/uploads/2024/08/Cryptocurrency-traders-see-160-million-in-liquidations-as-bitcoin-falls”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-logo-and-another-coin-with-the.jpg”/>bitcoin-logo-and-another-coin-with-the.jpg” alt=”bitcoin vs ethereum: A Comparative Analysis of Two Industry Giants – LAB51 | All About Web3, Metaverse, ai, Cryptocurrencies and nfts in Switzerland and Beyond”/>
bitcoin and ethereum lead sell-offs as sentiment hits “extreme fear”
The total cryptocurrency market capitalization fell by more than 5% over the past 24 hours. This is because the top 10 cryptocurrencies by market cap suffered losses during the last trading session. Toncoin (TON) took the biggest hit, losing over 7% of its value. Dogecoin (DOGE) was the next big loser after its price also plummeted by over 7%.
Market leaders bitcoin and ethereum (eth) fell by more than 4%. btc and eth accounted for the majority of liquidations over the past 24 hours. Over $43 million was lost in leveraged btc positions, while eth liquidations soared to over $39 million.
Market sentiment has also turned negative following the recent market correction. Over the past 24 hours, crypto/fear-and-greed-index/”>Cryptocurrency Fear and Greed Index He went from a “Fear” reading of 39 to an “Extreme Fear” score of 25.
A whale wakes up after 10 years of slumber
The btc price drop could have something to do with a dormant wallet being reactivated over the weekend. Whale tracking platform Whale Alert revealed in an Aug. 10 x post that an address containing 25 btc became active for the first time in over 10 years.
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”9.4285714285714″>
An inactive address containing 25 twitter.com/hashtag/btc?src=hash&ref_src=twsrc%5Etfw”>#btc (1,515,099 USD) has just been activated after 10.6 years (value of 20,138 USD in 2014)!https://t.co/DA4F4iE1av
— Whale Alert (@whale_alert) twitter.com/whale_alert/status/1822268682975715601?ref_src=twsrc%5Etfw”>August 10, 2024
In the post, Whale Alert shared that the wallet’s holdings were worth $20,138 in 2014. Since then, the value of the btc in this wallet has skyrocketed to over $1.4 million at the current btc price.
Related articles:
PlayDoge (PLAY): The Latest ICO on the BNB Chain
- Virtual 2D Doge Pet
- Play to Win Meme Coin Fusion
- Participation rewards and in-game tokens
- SolidProof audited – playdoge.io
Join our Telegram Channel to keep up to date with breaking news coverage.
<script async src="//platform.twitter.com/widgets.js” charset=”utf-8″>
