Cryptocurrency

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cryptocurrency-market-faces-significant-losses/" data-wpel-link="internal">Cryptocurrency Market Faces Significant Losses</a><br></p>
<p style="text-align: justify">There were comments suggesting a summer slowdown in the <a href="https://en.coin-turk.com/what-is-basic-attention-token-bat/" data-wpel-link="internal">cryptocurrency market</a>. Currently, the situation appears worse than expected. This decline caused many users to suffer significant losses in futures trading. Cryptocurrency <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> lost $400 million in long positions, and over 165,000 investors’ positions were closed. <strong>Bitcoin</strong> and <strong>Ethereum</strong> declines led to substantial losses in other altcoins.</p> 
<h2 style="text-align: justify" id="cryptocurrencies-and-liquidation">Cryptocurrencies and Liquidation</h2> 
<p style="text-align: justify">Data from CoinGlass showed that $440.24 million worth of positions were liquidated in the last 24 hours. A large portion of these positions, valued at $378.52 million, were in Ethereum.</p> 
<p style="text-align: justify"><strong>Ethereum</strong> (ETH) led the liquidation process, with most liquidations tied to long positions. Losses in short positions were calculated to be over $60 million.</p> 
<p style="text-align: justify">Leading DeFi and cryptocurrency investors’ losses reached $68.44 million, while bears in Ethereum short positions lost $16.27 million.</p> 
<p style="text-align: justify">The most notable transaction saw $6.44 million evaporate in a single liquidation. This occurred in a USDC pair ETH transaction on the Binance exchange.</p> 
<p style="text-align: justify">CoinGlass <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> indicated that the “other” cryptocurrency group ranked second in the largest liquidations, with Bitcoin in third place. Bears and bulls in Bitcoin (BTC) lost $69.83 million.</p> 
<h2 style="text-align: justify" id="img-loading-lazy-loading-lazy-decoding-async-class-aligncenter-size-full-wp-image-363138-src-https-coin-turk-com-wp-content-uploads-2024-06-btc1-coin-turk-com-png-alt-width-768-height-259"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-363138" src="https://coin-turk.com/wp-content/uploads/2024/06/btc1-coin-turk-com.png" alt="" width="768" height="259"></h2> 
<h2 style="text-align: justify" id="current-state-of-bitcoin">Current State of Bitcoin</h2> 
<p style="text-align: justify">The market experienced a significant shock in overall volume. After the decline on June 17, the market lost $136 billion. The Crypto Total Market Cap Index (TOTAL) fell from $2.385 trillion to $2.249 trillion during this period.</p> 
<p style="text-align: justify">As of the time of writing, Bitcoin is trading at $64,800 after a 0.69% drop. The market cap fell to $1.27 trillion, while trading volume increased.</p> 
<p style="text-align: justify"><strong>BTC’s</strong> 24-hour trading volume surged by 80%, exceeding $37 billion, indicating a significant increase in selling activity driven by market fear.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/cryptocurrency-market-faces-significant-losses/" data-wpel-link="internal">Cryptocurrency Market Faces Significant Losses</a></h5>

Cryptocurrency Market Faces Significant Losses

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