The trading day continues in an even more painful manner for bitcoin as the leading cryptocurrency took another hit and fell to its lowest price position in over two months, below $59,300.
The altcoin situation is worse, with eth falling below $3,000, SOL falling 8%, and some double-digit price drops.
It was just today that bitcoin bulls took charge and began an impressive rally that resulted in the asset approaching $65,000 for the first time in a few days.
However, it failed to surpass that level and the subsequent rejection had dire consequences. Amid the disappointing debut of bitcoin and ethereum spot ETFs in Hong Kong, the largest cryptocurrency fell a couple thousand during the day and continued to fall in the following hours.
This culminated in a drop below $60,000 and a drop to $59,100, which became its lowest price since late February.
eth is also in the red. The largest altcoin has fallen more than 7% in the last 24 hours and now sits well below $3,000.
Similar or more painful losses come from companies like SOL (-8%), DOGE (-7%), SHIB (-7%), AVAX (-7%), LINK (-8%), NEAR (-10%). , UNI (-10%), HBAR (-10%) and many others.
Consequently, the total value of liquidated positions has skyrocketed to almost $400 million per day. More than 110,000 merchants have been destroyed in the same time period, and the largest one was liquidated on Bybit and was worth over $5 million.
LIMITED OFFER 2024 for CryptoPotato readers on Bybit: Use this link to register and open a $500 btc-USDT position on the Bybit Exchange for free!
<!– ai CONTENT END 1 –>
