Ethereum

Bitcoin

Million

Yesterday’s minor relief rally quickly came to a halt as the entire market turned red once again. Bitcoin and Ethereum both dumped to monthly lows before recovering slightly. 
This has caused roughly $200 million in liquidations for over-leveraged traders, with the largest single-wrecked position worth nearly $3 million. 
CryptoPotato <a href="https://cryptopotato.com/bitcoin-btc-price-taps-59k-dogwifhat-wif-skyrockets-12-daily-market-watch/" data-wpel-link="internal">reported</a> yesterday the minor price gains charted from most assets, which included BTC nearing $60,000 for the first time in days. ETH was also a good performer, as it jumped to $2,550. 
However, the landscape has changed entirely today, perhaps <a href="https://cryptopotato.com/crypto-markets-dump-6-magnificent-7-shed-550b-as-slumptember-begins/" data-wpel-link="internal">driven</a> by the fear in the US stock markets, as mentioned earlier. 
Bitcoin was rejected before even having the chance to tap $60,000, but it went even further south today, dropping to $55,600 (on Bitstamp). The last time the asset stood at such a low level was during the early August crash. 
<figure id="attachment_357864" aria-describedby="caption-attachment-357864" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-3.png" data-wpel-link="internal"><img class="size-full wp-image-357864" src="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-3.png" alt="Bitcoin/Price/Chart 04.09.2024. Source: TradingView" width="1835" height="819" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-3.png 1835w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-3-300x134.png 300w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-3-1024x457.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-3-768x343.png 768w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-3-1536x686.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-3-50x22.png 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a>
 <figcaption id="caption-attachment-357864" class="wp-caption-text">
 Bitcoin/Price/Chart 04.09.2024. Source: TradingView
 </figcaption>
</figure> 
Ethereum lost over $200 in a day, from nearly $2,550 to $2,300. Despite recovering some ground and now trading at $2,370, the second-largest crypto is still 5.5% down on the day. 
The situation with the altcoins is even more painful on some occasions. TON, for example, has shed 8% of value, NEAR is down by 7%, while ADA, SOL, and AVAX have slipped by 6%. 
As a result, over 73,000 over-leveraged traders have been wrecked in the past day, with the total value of liquidated positions standing close to $200 million, according to CoinGlass. 
The single-largest one took place on Binance and was worth almost $3 million. It involved the ETH-USDT trading pair. 
The post <a href="https://cryptopotato.com/bitcoin-ethereum-tank-to-monthly-lows-leaving-200-million-in-liquidations/" rel="nofollow">Bitcoin, Ethereum Tank to Monthly Lows, Leaving $200 Million in Liquidations</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Bitcoin, Ethereum Tank to Monthly Lows, Leaving $200 Million in Liquidations

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