Ethereum

bullish

Bitcoin

Drops

Coin

<ul class="news-points wp-block-list" wp-block-list>
 <li><strong>Bitcoin’s price drop led to resistance at break-even levels for short-term holders.</strong></li>
 <li><strong>Surge in Open Interest and spot inflows added strain, causing high liquidations.</strong></li>
 <li><strong>Both BTC and ETH show potential for a bullish reversal despite recent declines.</strong></li>
</ul>
<p>Bitcoin and Ethereum saw significant price drops over the past two days. Bitcoin fell 10.8% from $65,062 to $58,053, while Ethereum experienced a steeper 14.5% decline, moving from $2,792 to $2,384, according to CryptoQuant data. These movements highlight the volatile nature of the cryptocurrency market and shed light on key factors behind the recent downturn.</p>
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   <p lang="en" dir="ltr">5 Key Charts on the Recent Price Drop<br><br>Bitcoin dropped from $65,062 to $58,053 (10.8%) over the last two days, while Ethereum saw a down move from $2,792 to $2,384 (14.5%). <br><br>These are the most important charts on what happened. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/9mEoQ3CFsN" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/9mEoQ3CFsN</a></p>— CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1828707227231764909?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 28, 2024</a>
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<p>Short-term holders played a role in creating a resistance level at their break-even price. As Bitcoin’s price dropped <a href="https://x.com/cryptoquant_com/status/1828707647207395483" target="_blank" rel="noopener noreferrer nofollow">earlier this month</a>, these investors faced an average 17% loss. When the price returned to their average cost basis, many sold at break-even, …</p>
<p>The post <a href="https://coinedition.com/bitcoin-and-ethereum-price-plunge-key-metrics-behind-the-10-8-and-14-5-drops/" rel="noopener noreferrer nofollow">Bitcoin and Ethereum Price Plunge: Key Metrics Behind the 10.8% and 14.5% Drops</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Bitcoin and Ethereum Price Plunge: Key Metrics Behind the 10.8% and 14.5% Drops

Coin Edition

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