Ethereum

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Status

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/cryptocurrency-market-sees-major-decline" data-wpel-link="internal" rel="noopener noreferrer nofollow">Cryptocurrency Market Sees Major Decline</a><br></p>
<p style="text-align: justify">The cryptocurrency market has experienced a severe downturn, leading to major losses for many <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a>. Predictions of a summer slowdown have been surpassed, resulting in significant financial repercussions. Futures trading has been hit hard, with $400 million lost in long positions and over 165,000 positions closed. The declines in Bitcoin and Ethereum have triggered substantial losses in other altcoins as well.</p>
<h2 id="how-are-cryptocurrencies-coping">How Are Cryptocurrencies Coping?</h2>
<p style="text-align: justify">CoinGlass <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data reveals</a> that $440.24 million worth of positions were liquidated in the past 24 hours. Ethereum was particularly affected, accounting for $378.52 million of the liquidations predominantly in long positions. Losses from short positions amounted to over $60 million.</p>
<p style="text-align: justify">Top investors in decentralized finance (DeFi) and cryptocurrencies incurred losses of $68.44 million, while Ethereum short sellers saw $16.27 million in losses. The largest single liquidation involved $6.44 million in a USDC pair ETH transaction on <a href="https://en.bitcoinhaber.net/expansion-of-binance-margin-trading-with-new-assets-and-pairs" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>.</p>
<h2 id="why-did-bitcoin-suffer">Why Did Bitcoin Suffer?</h2>
<p style="text-align: justify">According to CoinGlass data, the “other” cryptocurrency group had the second largest liquidations, while Bitcoin ranked third. Bitcoin investors, both bears and bulls, lost a combined $69.83 million. The market shock led to a $136 billion drop in total market volume following a decline on June 17.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">– Investors should closely monitor market trends and data from reliable sources like CoinGlass.<br> – Diversification of investment portfolios can mitigate risks from market volatility.<br> – Staying informed about significant liquidation events can help in quick decision-making.<br> – Understanding liquidation processes in futures trading can provide a strategic advantage.</p>
<h2 id="current-bitcoin-status">Current Bitcoin Status</h2>
<p style="text-align: justify">The overall market lost $136 billion, causing the Crypto Total Market Cap Index to plummet from $2.385 trillion to $2.249 trillion. Currently, Bitcoin is trading at $64,800 after a 0.69% drop, with a market cap reduced to $1.27 trillion. Notably, Bitcoin’s 24-hour trading volume surged by 80%, surpassing $37 billion, indicating heightened selling activity driven by market anxiety.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/cryptocurrency-market-sees-major-decline" data-wpel-link="internal" rel="noopener noreferrer nofollow">Cryptocurrency Market Sees Major Decline</a></h5>

Cryptocurrency Market Sees Major Decline

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