Solana

Bitcoin ETF

Bitcoin

Toncoin

Drops

Bitcoin price fell below the $60,000 mark, hitting a low of $57,642 after reaching a high of $61,858 earlier in the day. The leading cryptocurrency’s drop represents a 6.7% decline over the past 24 hours and a 13.9% loss over the past two weeks. 
The broader cryptocurrency market also suffered, decreasing its total value by 3.18% to $2.06 trillion. Despite a 7.53% rise in global trading volume, the overall market activity remained low compared to previous weeks. Ethereum (ETH) mirrored Bitcoin’s decline, falling from a high of $2,720 to a low of $2,540 before settling at $2,568. 
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 <img decoding="async" width="1007" height="451" src="https://www.cryptotimes.io/wp-content/uploads/2024/08/Bitcoin-Dips-Below-60K-Market-Sees-156M-in-Liquidations.png" alt="Bitcoin Dips Below $60K, Market Sees $156M in Liquidations" class="wp-image-195271" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/08/Bitcoin-Dips-Below-60K-Market-Sees-156M-in-Liquidations.png 1007w, https://www.cryptotimes.io/wp-content/uploads/2024/08/Bitcoin-Dips-Below-60K-Market-Sees-156M-in-Liquidations-800x358.png 800w, https://www.cryptotimes.io/wp-content/uploads/2024/08/Bitcoin-Dips-Below-60K-Market-Sees-156M-in-Liquidations-768x344.png 768w, https://www.cryptotimes.io/wp-content/uploads/2024/08/Bitcoin-Dips-Below-60K-Market-Sees-156M-in-Liquidations-860x385.png 860w" sizes="(max-width: 1007px) 100vw, 1007px">
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 Bitcoin Price Chart | Source:&nbsp;<a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noreferrer noopener nofollow">CoinMarketCap</a>
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Among the top cryptocurrencies, Toncoin (TON) experienced the most significant drop, down 8.66%, followed by XRP with a 6.5% loss and Solana (SOL) falling approximately 5.73%. As evening approached, selling pressure increased, leading to ongoing volatility in the market. 
Traders in the crypto derivatives market faced severe losses as long positions were liquidated. Data from <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noreferrer noopener">Coinglass</a> revealed that 67,883 traders were liquidated, totaling $174.38 million. Of this, $134.18 million came from long positions, with $40.29 million linked to short positions.&nbsp; 
Ethereum long positions saw $33.8 million in losses, while Solana experienced $14.14 million in liquidations. The largest single liquidation occurred on Okx, where an Ethereum trade resulted in a $2.17 million loss. 
Bitcoin’s recent plunge below $60,000 highlights ongoing market volatility and mounting investor uncertainty. The broader crypto market’s decline, despite increased trading volume, underscores the current bearish sentiment. 
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Bitcoin Price Drops Below $59,000, Falls 4% in 24 Hours

The Crypto Times

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