Ethereum

Solana

Bitcoin

Dogecoin

Bitcoin and altcoins started this morning with a decline. BTC generally hovered around $66,000 during the day, until it reached over $67,000 yesterday. 
However, Bitcoin, which experienced a sharp decline overnight, dropped to $ 63,800. Although there is no clear reason behind the decline in Bitcoin, the decline in Ethereum and altcoins appears to be due to outflows in spot Ethereum ETFs. 
Ethereum (ETH) is down 7.6% today to $3,100 despite the recent ETH ETF launch, while Solana (SOL) is down 1.7%; Dogecoin (DOGE) 5.5%; BNB fell 3.6% and Avalanche (AVAX) fell 4.8%. 
According to SoSoValue data, while there was a net outflow of over $810 million from Grayscale's ETHE, these outflows are similar to Grayscale's other large fund, GBTC, experiencing intense outflows in the first weeks after the approval of spot Bitcoin ETFs. BTC price also overreacted to the BTC outflows from Grayscale in the first weeks. 
Except for the Grayscale ETF, most other ETH ETFs remained in the green zone on Wednesday. BlackRock's ETHA led the way with an inflow of $283.9 million, followed by Bitwise's ETHW with an inflow of $233.6 million, and Fidelity's FETH in third place with an inflow of $145.7 million. 
These declines caused many long positions to be liquidated. According to Coinglass data, $292 million in leveraged transactions were liquidated in the last 24 hours. Of these, $259 million consisted of long positions and $33 million consisted of short positions. 
While 73,612 investors liquidated in the last 24 hours, the largest single liquidation order was on the BTC/USDT trading pair on Binance. The transaction was valued at $11.78 million. 
<img decoding="async" class="alignnone size-full wp-image-149038" src="https://www.bitcoinsistemi.com/wp-content/uploads/2024/07/Ekran-goruntusu-2024-07-25-094639.png" alt="" width="1268" height="475"> 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bitcoin-btc-ethereum-eth-and-altcoins-started-the-day-with-a-decline-what-is-the-reason-for-the-decline/">Bitcoin (BTC), Ethereum (ETH) and Altcoins Started the Day with a Decline! What is the reason for the decline?</a>

Bitcoin (BTC), Ethereum (ETH) and Altcoins Started the Day with a Decline! What is the reason for the decline?

Bitcoin Sistemi EN

Weitere Artikel, die am 25. Juli 2024 veröffentlicht wurden

Celestia’s New Rival Launches in Mainnet: What is Avail DA?

Kamala Harris refers to Bitcoin as ‘money for criminals’ behind closed doors

List of Top Three Altcoins Set To Skyrocket

Bitcoin Miners Have Upside As Power Shells With Data Center Capabilities: Bernstein

Ethereum Faces Sharp Drop After ETF Launch

Ethereum Stumbles on Debut Day of Spot ETF: What Led to the Dip?

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!