In the last 24-hours, crypto markets fell by 5%, in tandem with significant drops in US shares that sent global stocks down.
Bitcoin’s Price dropped almost 3% from 67,000 dollars to about $64,000. Ethereum The decline was even more dramatic, with a drop of nearly 8%, from about $3,400 down to $3,100.
BNB is one of the major digital assets. SolanaDogecoin and Toncoin also suffered significant losses. Each fell by more than 5 percent, according to CryptoSlate’s data.
Analysts have noted that on the 24th of July, the US stock market had its worst day since the year 2022. This was due to a huge sell-off by tech companies who benefited from the boom in artificial intelligence. This situation caused the stock market to lose over $1 trillion, according to reports.
Nasdaq composite index fell 3.6%. It was its worst performance for two years. The S&P 500 fell 2.3%, its most significant one-day decline in over a year, and the Dow Jones Industrial Average decreased by 1.3%.
The substantial inflows of money from Ethereum exchange-traded fund (ETF) products The market has continued to decline. According to a report by, over the past 24 hours, the ETH-based exchange traded funds (ETFs) saw net outflows in excess of $133,000,000, Grayscale Ethereum Trust ETHE alone experienced a $326.86 Million. CryptoSlate Insight.
Markus Thielen is the founder and CEO of 10x Research.
“The rally into the Ethereum ETF launch is finally over. All crypto listings have seen a ramp-up into the launch, only to become a sell-the-news trading opportunity.”
The red market causes around $300,000,000 in liquidation
Coinglass data indicates that the wide red market caused significant losses to crypto traders who speculated on the price of digital assets.
As per the dataOver 73,000 traders had to liquidate their positions totaling $300 million. The majority of losses were suffered by traders who placed long bets on the price increasing. This group of traders suffered losses totaling approximately $267 millions, while those with bearish attitudes were liquidated at less than $30million during the period.
The highest amount of liquidations was experienced by Ethereum and Bitcoin traders, whose totals reached about $102 and $83 millions, respectively.
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Source: cryptoslate.com