Bitcoin On Aug. 20 the market fell sharply below $59,000 as sales pressure intensified. This led to significant liquidations on the crypto-market.
In just an hour the crypto’s price dropped over 3%, losing almost all its gains from previous days trading after reaching a new weekly high.
Bitcoin’s price was $59,000 at the time of this press release, according to CryptoSlate data.
Liquidations
According to the data, over $50,000,000 was liquidated per hour on the crypto-market due to a downward trend in price. Coinglass data.
Bitcoin was the most liquidated cryptocurrency in the past four hours with a total of $1.84million. Ethereum (ETHLitecoin, and LitecoinLTCThe ), also experienced notable liquidations, with $396,130 in one case and $178.470 the other.
The majority of liquidations concentrated in major exchanges OKX Leading at $27.29 Million Binance The total liquidation was $23.61 Million. In the last four hours, $57.09 millions of liquidation was attributed to long positions.
Over the last 24 hours, 46,264 traders were affected by total liquidations of $135.32 millions. Binance recorded the largest liquidation, a BTCUSDT Contract valued at $3.17 Million.
Market volatility and liquidations that followed highlight the risk of leveraged trading in the crypto world. Bitcoin and digital assets are under constant selling pressure. Traders will likely remain cautious as long as the bearish trend continues.
Performance varies with large-cap
Ethereum Solana Both currencies have given up their gains from the day before within the past few hours.
As at the press time, ETH is trading for $2,576, and SOL is trading at $142.3.
Meanwhile, BNB, DogecoinThen, XRP Bitcoin dropped, but managed to hold onto most of yesterday’s gains.
BNB, as of the press release, was currently trading at $569.4, an increase in value by 3.81%. DOGE, on the other hand, stood at $0.102 and was up 3.37%. The price of XRP, which is currently $0.59, has also increased by 1.35% in the past 24 hours.
Toncoin had the worst performance out of the top cryptos. TON As of the time of publication, it was down by 2.03% in the past 24 hours and trading at $6.64.
TRON, ADAThen, AVAX In the past 24 hours, the following stocks have defied the downward trend: 7.83%; 2.92%; and 6.98%.
Bitcoin Market Data
Press release The 20th of August, 2024 will see 6:03pm UTC., Bitcoin It is #1 in market cap, and its price is You can also check out our Facebook page. 0.12% Over the last 24 hours. Bitcoin is valued at 11.6 trillion dollars The 24-hour volume trading is 31.97 Billion Dollars. Learn more about Bitcoin ›
Crypto Market Analysis
Press release The 20th of August, 2024 will see 6:03pm UTC.The crypto market has a total value of at 2 08 trillion dollars With a volume of 24 hours. $68.91 Billion. Bitcoin is the dominant currency at this time. 55.71%. Learn more about the crypto market ›
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Source: cryptoslate.com