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 fetchpriority="high" 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/" rel="noopener noreferrer nofollow">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

Altri articoli pubblicati su 25 lug 2024

Spot Ethereum ETFs post $113M of outflows on second day of launch

Global Equity Sell-off Puts Strong Selling Pressure on Bitcoin, Ether

Alkimiya Launches Bitcoin Blockspace Markets Protocol To Tackle Transaction Fees Volatility

Open Campus Announces the Start of $EDU Bridge to Arbitrum

Investors Withdraw $113.3 Million from New Ethereum ETFs in the US

Crypto ETFs Face $150.6M Outflow Despite Key Inflows

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!