Ethereum

Solana

Bitcoin

Drops

Notable

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-drops-below-58000-on-coinbase/" data-wpel-link="internal">Bitcoin Price Drops Below $58,000 on Coinbase</a><br></p>
<p class="p1" style="text-align: justify"><strong>Bitcoin</strong> price briefly dropped to $57,874 on Coinbase on July 4, falling below $58,000 for the first time in over two months. Bitcoin has since stabilized at $58,964 at the time of publication but is still down 3.4% week-on-week according to TradingView <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>.</p> 
<h2 class="p1" style="text-align: justify" id="notable-data-for-bitcoin">Notable Data for Bitcoin</h2> 
<p class="p1" style="text-align: justify"><strong>Bitcoin</strong> faced selling pressure as millions of dollars worth of long positions were liquidated in the futures market, hurting <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> hoping for a price increase. According to CoinGlass data, over $54.9 million worth of Bitcoin long positions were liquidated in the last 24 hours.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-367825 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/coinglass.webp" alt="" width="1374" height="421"></p> 
<p class="p1" style="text-align: justify">Similarly, investors looking to hold long-term positions in <strong>Ethereum</strong> ahead of the expected launch of several spot Ethereum ETFs approved by the SEC in July also saw their positions liquidated. A total of $57.9 million worth of Ethereum long positions were liquidated in the last 24 hours.</p> 
<p class="p1" style="text-align: justify">Much of the broader decline in Bitcoin’s price is attributed to the bankrupt Japanese crypto exchange <strong>Mt. Gox</strong>, which plans to start repaying creditors approximately $8.5 billion worth of Bitcoin from the beginning of July. However, some analysts believe the repayments may not be as dire for Bitcoin as others think.</p> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-in-the-altcoin-market">What’s Happening in the Altcoin Market?</h2> 
<p class="p1" style="text-align: justify">During Bitcoin’s rapid drop below $58,000, other altcoins also faced sharp selling pressure. Ethereum was down 4.5% at the time of writing and briefly dropped to $3,145 during the sharp sell-off on the night of July 4. <strong>BNB</strong> fell from $573 to $539, a 6% drop at the time of writing.</p> 
<p class="p1" style="text-align: justify"><a href="https://en.coin-turk.com/analyst-predicts-positive-outlook-for-solana-coin-investors/" data-wpel-link="internal">Solana</a> also experienced a 10.3% drop in the last 24 hours, giving back most of its recent gains and falling from a weekly high of $154 to $136 at the time of writing. Meanwhile, “buy the dip” sentiments surged on social media over the past two days, with its usage doubling on Reddit, X, and 4Chan during the same period.</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/bitcoin-price-drops-below-58000-on-coinbase/" data-wpel-link="internal">Bitcoin Price Drops Below $58,000 on Coinbase</a></h5>

Bitcoin Price Drops Below $58,000 on Coinbase

Table of Contents

COINTURK NEWS

Other articles published on Jul 4, 2024

Here’s How Low Bitcoin Price Can Go? Top Analyst Weighs In

MoonBag Staking Rewards Push Away Shiba Inu and Fetch AI From the Best Meme Coin Presale Spotlight

US Government Transfers $13.7M in Seized Bicton: What’s Happening

Hot New Airdrops July 2024

XRP Whale Offloads 65M Coins, XRP Price Dips

MoonBag Meme Coin Leads The Pack With Exceptional APY Staking and Liquidity Tactics, Outshining B...

Join our free newsletter for daily crypto updates!