• bitcoinBitcoin (BTC) $ 83,179.00
  • ethereumEthereum (ETH) $ 1,907.03
  • tetherTether (USDT) $ 0.999859
  • xrpXRP (XRP) $ 2.34
  • bnbBNB (BNB) $ 627.64
  • solanaSolana (SOL) $ 127.59
  • usd-coinUSDC (USDC) $ 0.999857
  • cardanoCardano (ADA) $ 0.719068
  • dogecoinDogecoin (DOGE) $ 0.171366
  • tronTRON (TRX) $ 0.215432
  • staked-etherLido Staked Ether (STETH) $ 1,904.52
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 82,964.00
  • pi-networkPi Network (PI) $ 1.35
  • leo-tokenLEO Token (LEO) $ 9.82
  • chainlinkChainlink (LINK) $ 13.69
  • the-open-networkToncoin (TON) $ 3.42
  • stellarStellar (XLM) $ 0.271937
  • usdsUSDS (USDS) $ 0.999713
  • wrapped-stethWrapped stETH (WSTETH) $ 2,286.03
  • hedera-hashgraphHedera (HBAR) $ 0.191357
  • avalanche-2Avalanche (AVAX) $ 18.47
  • shiba-inuShiba Inu (SHIB) $ 0.000013
  • suiSui (SUI) $ 2.27
  • litecoinLitecoin (LTC) $ 92.81
  • mantra-daoMANTRA (OM) $ 6.84
  • bitcoin-cashBitcoin Cash (BCH) $ 336.83
  • polkadotPolkadot (DOT) $ 4.35
  • ethena-usdeEthena USDe (USDE) $ 0.999187
  • bitget-tokenBitget Token (BGB) $ 4.42
  • wethWETH (WETH) $ 1,906.81
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • hyperliquidHyperliquid (HYPE) $ 13.74
  • whitebitWhiteBIT Coin (WBT) $ 28.46
  • wrapped-eethWrapped eETH (WEETH) $ 2,027.09
  • moneroMonero (XMR) $ 210.96
  • uniswapUniswap (UNI) $ 6.20
  • susdssUSDS (SUSDS) $ 1.04
  • aptosAptos (APT) $ 5.37
  • daiDai (DAI) $ 0.999540
  • nearNEAR Protocol (NEAR) $ 2.54
  • pepePepe (PEPE) $ 0.000007
  • okbOKB (OKB) $ 48.67
  • mantleMantle (MNT) $ 0.834907
  • internet-computerInternet Computer (ICP) $ 5.75
  • ondo-financeOndo (ONDO) $ 0.850361
  • gatechain-tokenGate (GT) $ 21.71
  • ethereum-classicEthereum Classic (ETC) $ 17.82
  • aaveAave (AAVE) $ 170.11
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 83,139.00
  • crypto-com-chainCronos (CRO) $ 0.088034
  • tokenize-xchangeTokenize Xchange (TKX) $ 30.33
  • official-trumpOfficial Trump (TRUMP) $ 11.27
  • vechainVeChain (VET) $ 0.025227
  • bittensorBittensor (TAO) $ 248.66
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998548
  • cosmosCosmos Hub (ATOM) $ 4.62
  • ethenaEthena (ENA) $ 0.366932
  • kaspaKaspa (KAS) $ 0.073470
  • filecoinFilecoin (FIL) $ 2.92
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.215781
  • celestiaCelestia (TIA) $ 3.37
  • fasttokenFasttoken (FTN) $ 3.99
  • render-tokenRender (RENDER) $ 3.18
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 83,042.00
  • algorandAlgorand (ALGO) $ 0.190736
  • arbitrumArbitrum (ARB) $ 0.366196
  • sonic-3Sonic (prev. FTM) (S) $ 0.493938
  • arbitrum-bridged-usdt-arbitrumArbitrum Bridged USDT (Arbitrum) (USDT) $ 1.00
  • story-2Story (IP) $ 5.48
  • optimismOptimism (OP) $ 0.864276
  • jupiter-exchange-solanaJupiter (JUP) $ 0.514998
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.518248
  • kucoin-sharesKuCoin (KCS) $ 11.08
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 83,024.00
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • binance-peg-wethBinance-Peg WETH (WETH) $ 1,909.39
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 1,979.77
  • movementMovement (MOVE) $ 0.443843
  • nexoNEXO (NEXO) $ 1.06
  • xdce-crowd-saleXDC Network (XDC) $ 0.067664
  • makerMaker (MKR) $ 1,204.16
  • immutable-xImmutable (IMX) $ 0.574915
  • worldcoin-wldWorldcoin (WLD) $ 0.854154
  • dexeDeXe (DEXE) $ 17.15
  • sei-networkSei (SEI) $ 0.199028
  • usual-usdUsual USD (USD0) $ 0.997811
  • injective-protocolInjective (INJ) $ 9.76
  • blockstackStacks (STX) $ 0.628353
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,141.03
  • binance-staked-solBinance Staked SOL (BNSOL) $ 132.77
  • flare-networksFlare (FLR) $ 0.015203
  • theta-tokenTheta Network (THETA) $ 0.910599
  • the-graphThe Graph (GRT) $ 0.093824
  • lido-daoLido DAO (LDO) $ 0.951567
  • bonkBonk (BONK) $ 0.000011
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 1.00
  • solv-protocol-solvbtc-bbnSolv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 82,523.00
  • paypal-usdPayPal USD (PYUSD) $ 0.998949
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,019.75
  • wbnbWrapped BNB (WBNB) $ 628.06
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 1.00
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.50
  • galaGALA (GALA) $ 0.016995
  • tether-goldTether Gold (XAUT) $ 2,988.95
  • eosEOS (EOS) $ 0.489331
  • tezosTezos (XTZ) $ 0.703580
  • berachain-beraBerachain (BERA) $ 6.54
  • stargate-bridged-usdc-berachainStargate Bridged USDC (Berachain) (USDC.E) $ 0.999518
  • the-sandboxThe Sandbox (SAND) $ 0.285547
  • jasmycoinJasmyCoin (JASMY) $ 0.014103
  • bittorrentBitTorrent (BTT) $ 0.00000070
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 82,970.00
  • bitcoin-svBitcoin SV (BSV) $ 33.66
  • jito-governance-tokenJito (JTO) $ 2.17
  • iotaIOTA (IOTA) $ 0.182297
  • flowFlow (FLOW) $ 0.416954
  • kaiaKaia (KAIA) $ 0.109436
  • pax-goldPAX Gold (PAXG) $ 2,995.80
  • usdx-money-usdxStables Labs USDX (USDX) $ 1.00
  • msolMarinade Staked SOL (MSOL) $ 162.49
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 1,981.65
  • flokiFLOKI (FLOKI) $ 0.000061
  • heliumHelium (HNT) $ 3.18
  • curve-dao-tokenCurve DAO (CRV) $ 0.440024
  • neoNEO (NEO) $ 8.02
  • pyth-networkPyth Network (PYTH) $ 0.150934
  • ethereum-name-serviceEthereum Name Service (ENS) $ 16.43
  • axie-infinityAxie Infinity (AXS) $ 3.37
  • resolv-usrResolv USR (USR) $ 1.00
  • zcashZcash (ZEC) $ 34.15
  • kavaKava (KAVA) $ 0.497076
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 139.09
  • beldexBeldex (BDX) $ 0.075672
  • honey-3Honey (HONEY) $ 0.997938
  • raydiumRaydium (RAY) $ 1.75
  • elrond-erd-2MultiversX (EGLD) $ 18.11
  • starknetStarknet (STRK) $ 0.181953
  • telcoinTelcoin (TEL) $ 0.005479
  • decentralandDecentraland (MANA) $ 0.266340
  • roninRonin (RON) $ 0.795966
  • true-usdTrueUSD (TUSD) $ 0.999840
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 0.760938
  • dogwifcoindogwifhat (WIF) $ 0.479758
  • dydx-chaindYdX (DYDX) $ 0.636183
  • pumpbtcpumpBTC (PUMPBTC) $ 81,377.00
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,020.44
  • arweaveArweave (AR) $ 6.89
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 1,905.10
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 1.00
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.170942
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.006951
  • conflux-tokenConflux (CFX) $ 0.087044
  • chilizChiliz (CHZ) $ 0.044853
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 82,831.00
  • ecasheCash (XEC) $ 0.000022
  • thorchainTHORChain (RUNE) $ 1.22
  • apenftAPENFT (NFT) $ 0.00000042
  • chain-2Onyxcoin (XCN) $ 0.012523
  • apecoinApeCoin (APE) $ 0.512974
  • clbtcclBTC (CLBTC) $ 82,827.00
  • aerodrome-financeAerodrome Finance (AERO) $ 0.517338
  • ousgOUSG (OUSG) $ 110.33
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 1,905.97
  • usdbUSDB (USDB) $ 1.00
  • coredaoorgCore (CORE) $ 0.405746
  • hashnote-usycHashnote USYC (USYC) $ 1.07
  • infrared-beraInfrared Bera (IBERA) $ 5.83
  • lorenzo-stbtcLorenzo stBTC (STBTC) $ 82,632.00
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.09
  • compound-governance-tokenCompound (COMP) $ 42.87
  • matic-networkPolygon (MATIC) $ 0.215730
  • axelarAxelar (AXL) $ 0.401614
  • grassGrass (GRASS) $ 1.35
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 1,904.72
  • trust-wallet-tokenTrust Wallet (TWT) $ 0.868001
  • spx6900SPX6900 (SPX) $ 0.376019
  • olympusOlympus (OHM) $ 21.81
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 1,985.12
  • fraxFrax (FRAX) $ 0.998538
  • pendlePendle (PENDLE) $ 2.16
  • amp-tokenAmp (AMP) $ 0.004125
  • tbtctBTC (TBTC) $ 82,889.00
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000063
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 1,910.82
  • kaitoKAITO (KAITO) $ 1.40
  • aioz-networkAIOZ Network (AIOZ) $ 0.287978
  • akash-networkAkash Network (AKT) $ 1.33
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 1.00
  • based-brettBrett (BRETT) $ 0.033220
  • beam-2Beam (BEAM) $ 0.006240
  • gnosisGnosis (GNO) $ 125.33
  • binance-peg-busdBinance-Peg BUSD (BUSD) $ 1.01
  • fartcoinFartcoin (FARTCOIN) $ 0.307478
  • mina-protocolMina Protocol (MINA) $ 0.262745
  • reserve-rights-tokenReserve Rights (RSR) $ 0.005634
  • morphoMorpho (MORPHO) $ 1.31
  • verus-coinVerus (VRSC) $ 3.96
  • plumePlume (PLUME) $ 0.170286
  • stakestone-berachain-vault-tokenStakeStone Berachain Vault Token (BERASTONE) $ 1,885.88
  • golemGolem (GLM) $ 0.288523

Bitcoin Drops 6%, Crypto Liquidations Hit $314M, What’s Next for Market?

0 46

Bitcoin Drops 6%, Crypto Liquidations Hit $314M, What’s Next for Market?

Story Highlights

  • With a massive sell-off, the Crypto market experienced a liquidation of over $313 million, in the last 24 hours.

  • The major liquidation came from the longs bet as bulls have liquidated over $282.05 million worth of long positions.

  • BTC could fall to the $54,000 level or even lower.

Bitcoin (BTC), the world’s biggest cryptocurrency experienced notable selling pressure after the closing of the US stock market, leading to a price drop of over 6%. The decline began as the bankrupt crypto lender Celsius repaid nearly $2.5 billion to its 251,000 creditors.

Crypto Liquidations Hit $313 million

Amid this selling pressure, top cryptocurrencies including Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) have experienced a record slump similar to the market crash on August 5, 2024.

Data from the on-chain analytic firm CoinGlass suggest more than 85,500 traders were liquidated in the last 24 hours. Meanwhile, the total liquidations recorded by the firm stand at $314.19 million. The single largest liquidation order occurred on Binance ETHBTC, valued at $12.67 million.

Bitcoin Drops 6%, Crypto Liquidations Hit $314M, What’s Next for Market?

According to the data, the major liquidation came from the longs bet as bulls have liquidated over $282.05 million worth of long positions. This indicates that bulls were expecting an upside rally, but it did not go as they anticipated.

Meanwhile, short sellers liquidated only $31.70 million worth of short positions during the same period.

Bitcoin Price Prediction

As of now, BTC is trading near the $59,200 level and has experienced a price drop of over 6% in the last 24 hours. Meanwhile, its trading volume has increased by 36% during the same period, indicating higher participation from traders amid price decline.

Bitcoin Drops 6%, Crypto Liquidations Hit $314M, What’s Next for Market?

According to expert technical analysis, BTC looks bearish and there is a high possibility that it will fall in a downtrend. Following a record price drop, BTC witnessed a notable breakdown of crucial ascending trendlines. If it closes a daily candle below the trendline, there is a high possibility that BTC could fall to the $54,000 level or even lower.

Will BTC Fall Again?

Despite 251,000 creditors receiving repayment, there are still 121,000 creditors who may receive funds soon, which potentially creates more selling pressure. So far, Celsius has distributed $2.57 billion, which is nearly 36% of the total repayment amount. This suggests that the market could face further declines if all creditors receive their repayments.

Source

Leave A Reply

Your email address will not be published.

Verified by MonsterInsights