Dogecoin

Bitcoin

Gram (prev. Toncoin)

Drops

Crypto bulls have faced significant losses, nearly $200 million, over the past 24 hours as the ongoing market sell-off intensified over the weekend.On Sunday, Bitcoin fell below $60,000 during early U.S. trading hours, continuing a four-day market downturn. Bullish futures bets lost almost $200 million within the past day. Ether (ETH) also saw a drop, falling below $2,900, erasing its gains from July when spot ETH exchange-traded funds (ETFs) were approved for trading in the U.S.Data from CoinGecko indicates that Bitcoin’s price dropped by 4% over the last 24 hours, reaching a three-week low of $59,400. Other major cryptocurrencies also suffered, with Solana’s SOL and Dogecoin (DOGE) both falling by more than 9%, and BNB, XRP, and Cardano’s ADA each experiencing at least a 6% drop. Toncoin (TON) showed relative resilience, only losing 1.8%.Ether’s decline to under $2,900 marks a retracement from its July high of $3,400, despite the launch of spot ETH ETFs in the U.S., which have seen net outflows on six of nine trading days, totaling $510 million in net outflows, according to SoSoValue data.CoinGlass data shows that bullish futures bets lost close to $200 million, with over 97,000 traders liquidated in the past 24 hours due to sudden market movements. ETH long positions led the losses with $55 million, followed by Bitcoin longs with $43 million.Some traders had previously warned of a potential Bitcoin drop to the $55,000 level amid geopolitical tensions in the Middle East and a general dampening of sentiment towards risk assets, including technology stocks.

Crypto Bulls Lose Nearly $200M Amid Market Sell-Off as Bitcoin Drops Below $60K

CoinstelegramEng

Other articles published on Aug 6, 2024

BNB Chain Announces Winners of Second BNB Incubation Alliance Round

BlackRock Sees Low Demand for Other Cryptos Other Than Bitcoin and Ethereum

What's Going On With Bitcoin Mining Stock Marathon Digital Today?

Russia Advances Crypto and Mining Regulations as US Sanctions Impact Economy

Michael Saylor's MicroStrategy Plans to Raise $2B to Buy More Bitcoin

Core Foundation Launches Dual Staking to Enhance Bitcoin Yields

Join our free newsletter for daily crypto updates!